Who's Got Gas?

While ownership of shale formations holding natural gas pockets promises great potential, it does no good until extracted, processed and moved. This technology and the necessary infrastructure are something that the US has developed while much of the rest of the world is only beginning to develop. The US Energy Information Administration reports that China has over 50% more reserves than the US ut has yet to tap them. They currently buy imported gas for $18 as opposed to the US $2.50. China is currently graduating 25 engineers to ever 1 US engineer to pursue the necessary technology for natural gas production. It is estimated that next to China’s 355 billion barrels gas reserves, the US ranks second while Israel ranks third just ahead of Russia.