Shale Gas: Why Reality has not Lived Up to the Dream

The development of the shale gas deposits in the United States, led by the drilling and fracking of horizontal wells into the Barnett Shale of Texas at the turn of the century, has opened up a resource that continues to draw visions of American energy independence from a number of commentators. The success of the development in exposing a potential resource that has been found in a number of states around the country continues to underwrite optimism for the short-term energy future of the country. In turn it has led to projected dreams of enhanced domestic supply in some of the countries of Europe, and the rest of the world.

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