Thursday, January 12, 2012

SLATE: Is there really 100yrs of Natural Gas under the USA

What the Frack?

Is there really 100 years’ worth of natural gas beneath the United States?

Shale gas.
A shale-gas drilling rig
Christopher Furlong/Getty Images.
The recent press about the potential of shale gas would have you believe that America is now sitting on a 100-year supply of natural gas. It's a "game-changer." A "golden age of gas" awaits, one in which the United States will be energy independent, even exporting gas to the rest of the world, upending our current energy-importing situation.
The data, however, tell a very different story. Between the demonstrable gas reserves, and the potential resources blared in the headlines, lies an enormous gulf of uncertainty.
The claim of a 100-year supply originated with a report released in April 2011 by the Potential Gas Committee, an organization of petroleum engineers and geoscientists.President and Chairman Larry Gring works with Third Day Energy LLC, a company based in Austin, Texas, that is engaged in acquiring and exploiting oil and gas properties along the Texas Gulf Coast.* Chairman of the Board Darrell Pierce is a vice president of DCP Midstream LLC, a natural-gas production, processing, and marketing company based in Denver. The report's contributors are from the industry-supported Colorado School of Mines. In short, the Potential Gas Committee report is not an impartial assessment of resources.


al fin said...

Thanks for the link. Some interesting charts as well as arguments which are likely to crop up in discussions about future energy policy.

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