It’s called “unconventional hydrocarbons” and it sure isn’t green. But you do need to know about it, because energy competes with energy. (And see my comments below.)
Here’s the latest word from Energy and Capital newsletter:
I know what some of you are thinking: Perhaps it’s better to take a ‘wait and see’ approach to shale gas.
But you need some assurance that these unconventional gas fields are on the rise, just watch the big oil and gas companies scramble to get their piece of the pie.
Call it unconventional wisdom if you will, but the major players have made it known that shale gas is on the big thing. They’re aggressively going after the remaining unconventional hydrocarbons in the U.S.
Naturally, the immediate deal that comes to mind is the latest $31 billion deal between Exxon and XTO (Exxon will also assume $10 billion in XTO debt).
In today’s natural gas climate, it’s not about the short term. Exxon knows this. In the long term — maybe five or ten years down the road — this was a smart play by Exxon.
On the heels of
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