Many analysts are pinning their hopes on natural gas extracted from widespread shale strata to provide cheap and abundant fuel in the coming decades. The growth in shale gas production in the US over the past ten years has more than offset declines in conventional gas production, so much so that gas, which was selling for more than $15 per million Btu at the end of 2005, dipped below $2.50 in January. But shale gas may not be abundant as some recent reports have estimated, according to new projections from the US Energy Information Administration.
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