Australia Discovers Massive Reserves of Shale Gas but Caveat Emptor

Liquified Natural Gas, or LNG, is the most significant trend in the international energy industry. The effect of shale production has already had massive effects on energy price in the United States and as the technology and infrastructure required to liquify and export the gas becomes prevalent those changes will be spread across Australia and the globe.

Australia is one of the countries betting on shale gas as it faces a slowdown in Chinese economic activity that is sure to effect the country's major industries, which revolve around...