Geologists Sharply Cut Estimate of Shale Gas

NY Times reports that federal geologists published new estimates for the amount of natural gas that exists in the Marcellus Shale, which stretches from New York to Virginia.

The market news is quoted as saying:

The shale formation has about 84 trillion cubic feet of undiscovered, technically recoverable natural gas, according to the report from the United States Geological Survey.

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