27 Jun '11, 7pm

via @NYTimes: Natural Gas Companies Oversell Reserves, Undersell Fracking Risks

via @NYTimes: Natural Gas Companies Oversell Reserves, Undersell Fracking Risks

Photo credit: ProgressOhio via Flickr/CC BY The New York Times on Sunday published an explosive investigation into the natural gas industry that revealed the industry is consistently overselling the amount of natural gas deposits available, hurting investors and misleading the public. The reporter, Ian Urbina, collected over 10,000 emails from investors and gas industry representatives that showed that the gap between the industry's rosy talk and reality is wider than previously recognized. "Money is pouring in" from investors even though shale gas is "inherently unprofitable," an analyst from PNC Wealth Management, an investment company, wrote to a contractor in a February e-mail. "Reminds you of dot-coms." "The word in the world of independents is that the shale plays are just giant Ponzi schemes and the economics just do not work," an analyst from IHS Drilling Data, an ...

Full article: http://www.treehugger.com/files/2011/06/ny-times-natural-...

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