Natural Gas Stocks on the Upswing as Government Support Grows
April 01 2011 - 8:16AM
Marketwired
Natural Gas support has been on the upswing in recent weeks as
safety and health concerns brought to light by the shutdown of the
Japanese Fukushima Daiichi nuclear facility has soured public
sentiment on nuclear energy. With clean energy still a top
priority, Americans have begun heralding shale gas as a cheap and
clean transitional fuel to renewable energy. The Bedford Report
examines investing opportunities in natural gas and provides
research reports on Chesapeake Energy Corporation (NYSE: CHK) and
Clean Energy Fuels Corporation (NASDAQ: CLNE). Access to the full
company reports can be found at:
www.bedfordreport.com/2011-04-CHK
www.bedfordreport.com/2011-04-CLNE
President Obama said earlier this week that he believes natural
gas has "enormous" potential as a clean energy alternative to oil
and federal incentives to expand the use of natural gas in vehicles
are "an area of broad bipartisan agreement."
Support for natural gas was on the upswing long before the
tragic events in Japan. Last year, reports from the Energy
Department determined that the cost of producing a kilowatt-hour of
power with natural gas is less expensive than nuclear, coal, wind
and solar.
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Critics of natural gas argue that shale gas drilling is
dangerous. Marcellus Shale -- which stretches under Pennsylvania,
New York, West Virginia and Ohio -- has become the centre of focus
of many oil & gas companies and is seeing a growing number of
complaints due to the risks of contamination of water reserves in
the area. In fact activist shareholder groups announced they have
filed resolutions with nine oil and gas companies that use
hydraulic fracturing, or "fracking," to extract gas from shale
formations thousands of feet underground. Drilling is booming in
Pennsylvania and West Virginia but New York has restricted drilling
until environmental questions about the potential threat of the
technology can be answered.
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