Huge Downward Revision of Shale Gas Reserves

The popping of the SHALE GAS MIRACLE just erased any remaining doubts that the world will be able to continue its delusion of maintaining business as usual… forever.

For many years, the oil and gas industry has been hyping their new miracle baby called “SHALE ENERGY”. Through new advances in technology such as fracking, the U.S. Government first estimated the total shale gas reserves in the country at a staggering 827 trillion cubic feet. Furthermore, BP stated that shale gas and oil will make the United States self-sufficient by 2030.

However, cracks began to appear in the GREAT SHALE GAS MIRACLE when in January of this year, the U.S. Dept of Energy released new projections which cut the reserves to nearly half to only 482 trillion cubic feet. Even though this was a 42% decline in reserves… it is still a great deal of natural gas that the country can depend on. Or is it?

On Sept. 2nd, 2012, something very startling occurred. The USGS – United States Geological Society, came out with revisions to the shale gas fields’ reserves… and it wasn’t pretty. Before we get into the details of the data, let me give you some background information.

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