The next Enron/DotCom/Housing Bubble?
Or... Recession Plagued Nation Demands New Bubble to Invest in. Insiders Warn “Shale Plays are Just Giant Ponzi Schemes” The lead story in the New York Times today is a detailed bubble bursting of the much vaunted boom in unconventional natural gas.??Natural gas companies have been placing enormous bets on the wells they are drilling, saying they will deliver big profits and provide a vast new source of energy for the United States.??But the gas may not be as easy and cheap to extract from shale formations deep underground as the companies are saying, according to hundreds of industry e-mails and internal documents and an analysis of data from thousands of wells.?? The NYT has gained access to some amazing, must-read e-mails that “suggest a view that is in stark contrast to more bullish public comments made by the industry, in much the same way that insiders have raised doubts about previous financial bubbles.” It ends when a few CEOs take the money and run, everything goes po
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