The Energy Report: A number of experts say North American gas supply is peaking. Where do you weigh in?
Keith Schaefer: During the last three years, the mantra has been, “Drill, baby, drill,” for a number of reasons. The price of gas was never one of those reasons. Companies drilled because the technology kept improving. They drilled because they were able to get cheap foreign capital to partner in joint ventures. The market situation was not based upon economic “truth.” It was based on securing the land position and, “Economics be damned, let’s go!” But we are now returning to a … [visit site to read more]
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