I cannot resist snark. The shale gas "Ponzi scheme" keeps producing huge new supplies and lower gas prices. Yesterday the January forward natural gas contract for the mid-October date hit the lowest level since 2002, according to the Wall Street Journal.
Back in 2002 shale gas amounted to about 1% of US gas supplies. From 2002 to 2008, prices marched higher, gas imports increased, and the nation prepared to import large volumes of LNG, believing that domestic natural gas supplies were inadequate to meet demand.
Providing 30% of US gas supply, shale gas has changed all that, including $10 or more for a thousand cubic feet. Thanks to shale gas, this winter will feature low natural gas prices for the 51% of American homes that use natural gas.
Just look at the prices heating oil customers will pay this winter to see the importance of low natural gas prices. EIA is projecting that heating oil consumers will pay as much as $3.71 per gallon or $3,000 to $4,000 to get through the winter. Perhaps oil customers need to be served by a Ponzi Scheme.