Coal Bed Methane Possibilities

The head of Shell Canada Ltd. says a ''step up'' in the long-term outlook for oil prices means that the Calgary energy giant can expand its activities in unconventional areas such as coal bed methane.

Clive Mather, who became Shell's president and chief executive officer in August, said a "structural shift" in the oil market means that it is very unlikely that prices will collapse as they did in the late 1990s. "There will be a correction, but I don't think we're going to plummet again," he said yesterday, adding that he does not believe current crude prices, hovering near $50 (U.S.) a barrel, will be sustained.Full Story