More shale nonsense
Dec 10, 2012
Bishop Hill in Energy: gas

The Telegraph gets the whole reserves versus resources thing wrong. Again.

The British Geological Survey estimate there are 5.2 trillion cubic feet (150 billion cubic metres) of shale gas under the UK, 50 per cent more than conventional gas reserves and enough to power Britain for decades.

However it is not clear how much of that gas will actually be accessible.

The 150bcm figure is reserves. The bit we know is accessible at current prices. The resource figure is much bigger.

This mistake is repeated so often one starts to wonder if it is, well, a mistake.

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