Abstract for: The Shale Gas Phenomenon: Utilizing the Power of System Dynamics to Quantify Uncertainty
Abundance of shale gas and cheap extraction techniques led to a boom of natural gas (NG) supply in U.S. with a corresponding drop in prices. This investigation captures the multitude of economic, technological, geoscience factors that impact production. A few of the key findings include the ability to more accurately model the shale gas behavior on top of the conventional and coalbed methane-based systems within the system dynamics environment. This is especially noteworthy given the recent rapid increase in production within the U.S.