Friday, October 23, 2009

No Shortage of Natural Gas

This a good article on the abundant supply of natural gas that the United States possesses, due in large part to the technological advances in horizontal drilling. I am not sure if anyone has explained to Nancy Pelosi that natural gas IS, in fact, a fossil fuel. She liked natural gas when she didn't realize that it's a fossil fuel. Fossil fuels being evil and all.


Experts now believe that the country has far more natural gas at its disposal than anyone thought three or four years ago. The revised estimates are largely due to advanced drilling techniques that make it economically feasible to extract the fuel from shale. And while the Marcellus is the most recently discovered and possibly the largest shale-gas deposit, others are scattered throughout the country. The U.S. consumes about 23 trillion cubic feet (TCF) of natural gas a year, according to the Department of Energy's Energy Information Agency (EIA). The Potential Gas Committee (PGC), an organization headquartered at the Colorado School of Mines, put the country's potential natural-gas resources at 1,836 TCF in a biennial assessment released in June. That's 39 percent higher than its estimate of two years earlier. Add to that the 238 TCF that the EIA has calculated in "proved reserves" (the gas that can be produced given existing economic conditions) and the PGC pegs the future supply at 2,074 TCF. In other words, there is enough natural gas to supply the country for 90 years at current consumption rates. Even if we used natural gas to totally replace coal in generating electricity, domestic supplies would last for 50 years.

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