8/25/2011

The Energy Department lowered its estimate of undiscovered natural gas in the Marcellus Shale formation by up to 80%. According to the U.S. Geological Survey, the formation holds approximately 84 trillion cubic feet of gas, which is down from the projection of 410 trillion cubic feet that was made by the Department of Energy. "We consider the USGS to be the experts in this matter," said Philip Budzik, an Energy Information Administration analyst.

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