Oil is one of the most important commodities in the world, it’s the source growth for any aspiring economy, but as this finite resource dwindles people are beginning to look to the next viable fuel option. Shale gas has emerged on the scene and, with a little more research; it could prove to be a valuable alternative.

Up until now, existing fuel supplies have been heavily dependent on oil rich Russia and Iran, which are both prone to political upheavals leading to volatile prices for crude oil. On the other hand large discoveries of shale gas have been found in the Americas, United Kingdom and China which also happen to be some of the largest consumer’s of oil. There is said to be enough shale gas in North America to satisfy its energy needs for the next 45 years. Clearly, the mining and extraction of shale gas would reduce the monopoly held by oil rich nations and could lead to lower fuel prices.

So are there any drawbacks from mining shale gas? Sadly, yes there are both financial and environmental aspects to consider. Firstly, using present methods it is still costly to produce however as more players enter the arena and the technology improves, the cost of production will fall dramatically. From an environmental viewpoint, a risk arises from using toxic drilling fluids that could get into the water system. While this may be a real risk, there is no reason that with adequate safety precautions, this risk can be minimised.

So will shale gas be a viable fuel of the future? Well so far all the indications point towards shale gas being a major contender as an alternative fuel. Money needs to be spent on research to assess its true benefits but with increasing fuel prices and political instability in the Middle East, this option can only get more tempting.