With Europe's economy stagnant and the United States in oversupply, more gas is heading to Asia.
As day after day of headlines stack up, this careless dash for gas is heading for its own Monsanto moment – an industry fracked by its own arrogance.
David Leonhardt asks: if gas is heading toward $4 a gallon and retailers like Costco and Sam's Club are rationing rice to prevent people from hoarding it, why does the rate of inflation (4percentt) not seem to reflect how bad the economy appears to the casual observer?
Our reliance on gas is heading in a bad direction".
First off, the price of gas is heading south in a hurry.
A Banksy mural that adorned a wall of a Los Angeles gas station is headed for auction.
It also helps the industry that the head of North Dakota's oil and gas regulatory body — the Department of Mineral Resources — is headed by Lynn Helms, a former employee of industry giants Texaco and Hess. .
Far more important than climate concerns in Bulgaria, experts say, is the country's dream of becoming an entry point for Russian gas supplies piped through Turkey, which is headed by another authoritarian leader.
Despite the mounting evidence that the shale gas boom is heading for a bust, both economically and environmentally, both governments and industry are together pouring their eggs into a rather flimsy basket.
A NEW YORK TIMES article last month, "Insiders Sound an Alarm Amid a Natural Gas Rush," warned across two columns at the top of the front page that high expectations for companies drilling shale gas might be headed for a fall.
