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Reputable economic study weighs benefits, costs of living near US shale hot spots

Average households in U.S. shale oil and gas drilling hot spots have experienced property value, income and other benefits that outweigh the costs of a diminished quality of life brought on by the industrial activity, economists reported in a recent study for the Social Science Research Network (SSRN). The benefits were not uniform across shale drilling regions, some…

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Cuadrilla, at last, begins work at UK shale gas site

Work to prepare the first horizontal fracking site in the UK for shale gas extraction has begun in Lancashire. The government approved energy firm Cuadrilla Resources’s plans to frack at the Preston New Road site at Little Plumpton in October last year. The firm said it started site construction work on Thursday after Lancashire County Council agreed…

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US shale producers to contain their enthusiasm as oil hangover eases

Shale oil companies are ready to play chicken with supply and demand again, according to a report by Bloomberg. Roiled by a year that began with crude at a 12-year low and ended with a surprise OPEC agreement boosting prices, U.S. producers including Continental Resources and Pioneer Natural Resources are promising not to overreact —…

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Freezing US winter sees surge in natural gas prices

US natural gas prices are surging as cold weather eats into inventories, tightening the market much more quickly than many analysts had expected. The blast of Arctic weather in December put a strain on natural gas markets, with millions of people cranking up the heat to keep warm. The EIA reported a surprise drop in storage levels…

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Iran discovers new shale gas reserves

A National Iranian Oil Company (NIOC) official said that new shale gas reserves have been discovered in west Iran exploration blocks. Iran has also joined the push for shale oil and gas around the globe as NIOC has so far defined four study projects in an attempt to discover shale reserves in Lorestan province and…

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New U.S. pipelines to double shale gas exports to more regions in Mexico: EIA

U.S. pipeline capacity for natural gas exports to Mexico has rapidly expanded in the past few years and currently stands at 7.3 billion cubic feet per day (Bcf/d). This existing cross-border capacity primarily supplies the Northeast and Central regions of Mexico. New capacity projected to be completed in the next several years will help to supply…

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