It's a big junk science conspiracy and getting bigger. First, as Governor Perry confidently states, a world wide conspiracy by scientists to perpetrate a climate science hoax is underway. And now the continuing shale gas Ponzi scheme to defraud simple investors like Exxon in which again the US government is part and parcel.
The scientists at the US Geologic service are joining the shale gas conspiracy by raising its estimate of Marcellus recoverable reserves 42 times to 84 trillion cubic feet. How could that be?
Read all about it in the NYT.
Ok the foregoing is snarky and as about as ridiculous as the Ponzi scheme nonsense broadly thrown at the gas industry.
But what is sad, even dangerous, is that both climate science denial and the shale gas Ponzi scheme conspiracies are taken seriously by far too many people, though they tend to be different groups.
The US Geologic service is a highly reputable, cautious organization that had estimated the Marcellus recoverable gas reserves in 2002 at 2 trillion cubic feet. The odds are not small that the 84 trillion cubic feet estimate will prove low.