Berman isn’t saying that the major shale players — companies such as Chesapeake Energy, Devon Energy and Houston-based Petrohawk Energy — are wrong, but he’s skeptical that shale gas will be the domestic energy boon that the companies claim.
“I’m saying it’s a bubble,” Berman said. “They’re creating an illusion.”
It’s an awful lot of destruction, devastation to our planet and compromising health and safety for some very short-term gain.
This is fueled by Pickens a pretender who only wants to line his own pockets.
John Royall, president and chief executive of Gulf Publishing, said he didn’t receive any pressure from gas companies. World Oil serves a global audience, and gas shale is largely a domestic issue. Berman had written on the topic for a year, and Royall decided that was enough.
“Art had an interesting take on shale gas,” he said. “It was interesting, provocative stuff, but it was time to move on.”
Berman doesn’t come off as obsessed or paranoid. He simply believes that the industry has abandoned caution when it comes to shale, wasting millions drilling wells with a lack of scientific analysis.
“All of my instincts say if you approach it this way, it’s just insanity,” he said.
If he’s right, the insanity could affect us all. As Congress discusses carbon capture and environmentalists champion converting vehicles to run on natural gas, the prospect that gas supplies could be far less than we think could have a profound economic impact on the country.
“My message isn’t ‘this is bad,’ it’s that we need to practice some caution here,” Berman said.