New York Times article refers to shale gas drilling as a "giant ponzi scheme".

http://www.msnbc.msn.com/id/43539470

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Oil & Gas ProPermalink Reply by Ben Elmore on June 26, 2011 at 4:34
Odds that the "Chesapeake geologist" still has his job Monday?

Oil & Gas ProPermalink Reply by HBP on June 26, 2011 at 5:31

Skip and others have good points about the data used by Berman and some from this article.  I'm sure the shale play can look like a ponzi scheme with the right decline rates and when someone assumes the future price of gas. 

 

I'm not against any one news organization (they all fail us to a point), but it does seem like NYT has put nat gas in their cross hairs for whatever reason.  I read that paper probably weekly (along with a variety of others) and notice they have enough ink to criticize other's solutions, but seem to run out before they offer up any viable solutions of their own.  They will do an article on how solar may run a car 30 years from now, and how drilling for hydrocarbons is harmful - but we can't all stroll to work from our ivory tower to the NYT - America needs energy daily.

 

This article, whether the least bit true or not, does not change the fact that domestic hydrocarbons are an opportunity not a curse.  Politicians and businesses need to focus on that practical solution.  The article fails to mention that if we did increase the role of nat gas in America, then even their "ponzi" numbers would probably look economic very quickly due to increase of demand.  But they won't write that...


Oil & Gas ProPermalink Reply by dbob on June 26, 2011 at 6:08

Had a family member who worked for NY times in high end computing support.  He is inherently fairly liberal/liberterian and didn't believe in a liberal biased media until he went to work there.  After a few years, he admitted the bias was there, although he didn't think is intentional.  Liberal folks are in high positions/managers, editors, etc.  If you write something from more central point of view, it tended to get edited down and/or pushed to the back.  Journalists who had a more conservative view would either move on to other organizations, or make their writing conform to what their editors/managers wanted.  It wasn't directed/intentional, but if you wanted that promotion or raise, being toward the right tended to hurt you.  

 

I suspect the same bias is present in their environmental coverage and coverage of energy matters.  

 

Coverage saying shale gas is a good thing just wouldn't sell papers in NY.

 


Oil & Gas ProPermalink Reply by Skip Peel - Mineral Consultant on June 26, 2011 at 7:27
The New York Times, Washington Post and Los Angeles Times are icons of print media.  They are not now nor have they ever been perfect.  Print media in general is becoming more sensational and seeking of controversy because that is what sells papers unfortunately.  The American public has an attention span shorter than my little finger, an appetite for the sensational and a disdain for in depth reporting on any issue of real import.  They prefer blind partisan dogma and sound bites to rational thought and a yearning for the truth.  The media is, in general, a faithful reflection of what the American people find of interest.

landownerPermalink Reply by MKM on June 28, 2011 at 8:15
Thank you Skip. I very much value your level head, expertise and fairness.

landownerPermalink Reply by essay on June 30, 2011 at 8:25
icons of liberal  print media, there fixed it for you.  also, it couldn't have anything to do with the overall decline of liberal media everywhere, what with the surge of "new media," and all of the information available free of liberal filters on the internet?  print media in general is in trouble, and liberal print media especially so.  americans have always had short attention spans and a taste for sensationalism but we're in a race to the bottom with newspapers because it's all they have left.  maybe if they scream louder about being true objective journalists while they print trash like this people will change their perception.  probably not though.
Permalink Reply by Mmcf/d on June 30, 2011 at 10:13
Wonder what kind of atmosphere it would take to bump them up to a level of rational thought and a yearning for the truth? 

landownerPermalink Reply by adubu on June 30, 2011 at 12:05
Mmcf/d---- if they speak the truth they get canned (FIRED)--- did you see what happen to Mark Halperin senior political anaylsis for MSNBC this Am on Morning Joe TV show MSNBC with comment about Obama.Message to Newsmen or women what every you do -- do not tell the truth!!!!
Permalink Reply by Kat Bloomfield on July 21, 2011 at 14:08
HBP, how true. And might I add that other than energy, including hydrocarbons, what else is our nation manufacturing? Nada! It seems in the best interest of all that its time to focus on using our natural resources here and now to fuel local light manufacturing, transportation, and energy needs of office compounds, neighborhoods, shopping centers,etc. AND development of alternative fuel facilities. In short, dont we need an active energy policy that makes sense now and also is forward looking?

landownerPermalink Reply by Joe Aldridge on June 26, 2011 at 6:55

You know its sad that some people have an agenda that is so irrational and jaded.

Yes, the price of gas has come down - because of the discovery and  production of shale gas. If it were not for the shale gas discovery and new production techniques the consumer would be paying twice to three times what they are paying now. That would mean higher cost for electricty, heating cost would be substaintialy higher, etc. Someone needs to point out the number of jobs that shale gas drilling and production has created and what the economic benefits of the play are. Were is the Chamber of Commerce when you need them?

Permalink Reply by ur dern tootin' on June 26, 2011 at 7:22

Dr Loren Scott, LSU economist, has worked all of the numbers of the economic benefits of developing the HS, and has published several studies.  Also, Don Briggs, LOGA president, writes and speaks often on this subject.  Pretty impressive economic numbers, for sure!


landownerPermalink Reply by Ezra on June 26, 2011 at 7:22

The Dallas Morning News placed this NYT 'article' on today's front page (Sunday June 26, 2011).                 

Ironically, a story ran a couple of days prior about a suburb (Flower Mound, TX; Barnett Shale) placing tight restrictions on rigs within city limits.

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