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Shale Skeptics Take On Pickens as Gas Fuels Policies: Energy

Where others see a U.S. energy revolution of cheap and abundant fuel, David Hughes sees a short-term bubble that will bring higher economic and environmental costs.

The Canadian geoscientist, founder of the consulting company Global Sustainability Research, is part of a movement pushing back against conventional wisdom that the U.S. is on the verge of energy independence amid surging oil output and a 100-year supply of natural gas. Projections of 2,384 trillion cubic feet of gas supplies provide false confidence because they don’t adequately account for the cost of production declines of as much as 47 percent a year that come with drilling in shale, Hughes said.