Insiders Sound an Alarm Amid a Natural Gas Rush – NYTimes.com

26 Jun

But the gas may not be as easy and cheap to extract from shale formations deep underground as the companies are saying, according to hundreds of industry e-mails and internal documents and an analysis of data from thousands of wells.

In the e-mails, energy executives, industry lawyers, state geologists and market analysts voice skepticism about lofty forecasts and question whether companies are intentionally, and even illegally, overstating the productivity of their wells and the size of their reserves. Many of these e-mails also suggest a view that is in stark contrast to more bullish public comments made by the industry, in much the same way that insiders have raised doubts about previous financial bubbles.

In other words, business as usual; self-deception, lying, and lBS.

via Insiders Sound an Alarm Amid a Natural Gas Rush – NYTimes.com.

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