Natural gas prices hit a record low for this year, and might stay lower as the year goes on because of the vast deposits of shale American drilling companies are tapping into, one analyst is saying.
The shale he is referring to is the deep underground rock formations like the Marcellus Shale under Pennsylvania that have only recently begun being tapped for their fossil fuel riches. Until recently, the technology didn’t exist to get the gas out of the rock, and by most estimates, there is a whole lot now to be had.
Of course, there are also the environmental concerns, but it looks like at least one of the potential upsides of this industry in Pennsylvania is materializing: Gas gets cheaper.
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