It was, the Washington Post claimed (in December 2011), “made possible by the government agencies that critics insist are incapable of investing wisely in new technology.”
Ultimately, Mitchell and other gas developers’ decision to spend millions of dollars and nearly two decades pioneering techniques that few thought would result in commercially viable extraction is less quixotic than it might have appeared. The federal government generously subsidized drilling for non-conventional gas throughout the 1980s and 1990s, when oil and gas were cheap.
While the rise in natural gas prices in the late 1990s sparked the shale gas revolution, it was the federal non-conventional gas tax credit that made Mitchell’s experimenting possible in the early years, when there was no market for more expensive shale gas.
Source: http://electricalcontractor.com/?p=8945
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