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    FT: Poland’s shale: enter the state

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Summary

Mikolaj Budzanowski, Poland's treasury minister, hopes the the combined efforts of five companies will result in shale gas being extracted in commercial quantities within three years. Budzanowski suggested that the companies raise money to pay for exploration by selling minority stakes in their gas concessions.

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FT: Poland’s shale: enter the state

Maybe it’s time to file away Poland’s adventure in shale gas under “market failure”. The invisible hand has yet to find the gas in marketable quantities, something that recently prompted ExxonMobil to throw in the towel and quit exploring in Poland.

But this leaves an opening for the visible hand of government, as Poland’s largest state-controlled companies band together to hunt for the fuel.   MORE

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