In its Sunday edition, the New York Times carried a story, based on a review of thousands of internal gas industry documents, which reports that some industry insiders think of the Marcellus boom as a "Ponzi scheme," similar to the Enron bubble. The report notes that many gas wells aren't producing, nor are they as profitable, as expected.
http://www.nytimes.com/2011/06/26/us/26gas.html?ref=us
Her's a link to some of the industry documents:
http://www.nytimes.com/interactive/us/natural-gas-drilling-down-documents-4-intro.html?ref=us
Monday, June 27, 2011
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