31 May 2012 23:30 [Source: ICIS news]
CLEVELAND, Ohio (ICIS)--US regulations and infrastructure have given it a head start against other parts of the world in developing shale gas, an economist said on Thursday.
Other countries such as Argentina have also discovered shale-gas reserves, but the resources still need to be developed. Factors could prevent some countries from developing those reserves as quickly as the US.
"We have the rule of law, we have the regulatory framework," said Marianne Kah, chief economist for ConocoPhillips.
She spoke during the 2012 NABE Industry Conference, held by the National Association for Business Economics.
In addition to those advantages, the US also has private mineral rights, so landowners could profit from any minerals extracted underneath their property, she said. "When the local person has the incentive, development is likely to occur."
Landowners do not have the same rights in other countries.
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