Global Warming Examiner

McMoRan Exploration Company: Bonanza or White Elephant?

We have found huge quantities of natural gas in shale formations that new horizontal drilling techniques have unlocked. The slow economy and the now abundant amount of gas have driven prices down, probably below the cost of new production.

With the overhand of domestic natural gas, which probably won't go away anytime soon, the importation of LNG into the US does not seem to be a viable business. LNG has better markets in other countries that don't have the domestic natural gas resources we have.