US shale gas development: What led to the boom?
US shale gas development: What led to the boom? / Zhongmin Wang & Alan J. Krupnick, Resources for the Future, mays 2013, 16 p. (issue brief 13-04)
Key points (© RFF) :
– The shale gas boom resulted from factors that ultimately enabled firms to produce shale gas profitably, including technological innovation, government policy, private entrepreneurship, private land and mineral rights ownership, high natural gas prices in the 2000s, market structure, favorable geology, water availability, and natural gas pipeline infrastructure.
– The key question for policymakers in countries attempting to develop their own shale gas resources is how to generate a policy and market environment in which firms have the incentive to make investments and would eventually find it profitable to produce shale gas.