"Because BHP Billiton’s time horizon is closer to 30 years than 3 months, Yeager says, he has no problem swallowing several quarters of losses on certain shale fields. 'We want to become masterful at working shale. Not only here, but on a global basis.' [...] And if natural gas gets even cheaper? That would give BHP only more opportunities to pick off weaklings, it says. With their decades-long view, Kloppers and Yeager don’t doubt in the least that world demand for gas, as a cleaner-burning fuel to supplant coal and oil, will grow."
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