ENERGY: New gas resources explode “peak oil” alarmism*

A massive expansion of natural gas production, fuelled by new technology, is changing the global energy landscape, removing fears that the world is running out of petroleum, and dramatically pushing down the price of natural gas.While Australians are aware of the expansion of conventional gas output in the Timor Sea, the most interesting development globally is the role taken by “unconventional gas”, a technical term to describe coal-seam gas, shale gas and tight sands gas.In Australia, major ne…

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