Exxon Invest $31 Billion in Shale Gas

The NYTimes story tells the tale – When Exxon Mobil invests in shale gas to the tune of $31billion then you know the articles in Technology Review and NYTimes on shale  gas prospects are not far off the mark. The amounts of shale gas available are estimated at between 40 and 80 year supply. Given the excess of new shale gas in the US, the price of gas has dropped  to less than 1/3 of its oil equivalent – so clearly Exxon is following the adage- “Buy low,  sell high” when gas prices inevitably rise by100%  or more  to their oil BTU equivalents.