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Most of the recent decline is due to fracking, which is a more capital intensive method of extracting oil, requiring a larger investment upfront and higher global prices to be viable.
Currently, in most areas, higher prices can still result in "demand destruction" for gas because there are viable alternatives.
Now both are viable.
All three scenarios are viable.
"About 16 are viable now".
There are viable solutions.
"All three are viable.
Mr. McLoughlin also said the cost of the arm needed to be about a tenth of its current price to be viable in the marketplace.
However, it would help the manufacturers too if they could be a bit more forthcoming with information that would allow a better appraisal of whether their prices are fair and viable.
These reserves represent about 17% of Britain's remaining hydrocarbons, according to DECC, yet this frontier is only now being broached: Total, a French energy company, started building a pipeline to it in 2010.Such activity is viable only while prices are high: a barrel of Brent crude currently fetches $118 £755).
And then there is Kazakhstan's giant Kashagan project, which thanks to huge cost overruns, lengthy delays and weak oil prices may not be viable for years (see article).It is not only the megaprojects that are being hit.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com