Environmentalists have been wishing that coal would go away for many years. The recent surge in natural gas supply from the shale gas production is the force proving the economic law of substitution. Much like the 50’s and 60′ when…
Month: January 2012
Electricity declines 50 percent with shale boom
Electricity declines 50 percent with shale boom by Bloomberg A shale-driven glut of natural gas has cut electricity prices for the U.S. power industry by 50 percent and reduced investment in costlier sources of energy. With abundant new supplies of…