Estimate places [United States] natural gas reserves 35 percent higher (2K trillion cubic feet)

The Omaha World-Herald / The New York Times ^ | June 21, 2009

[2ndDivisionVet]

Thanks to new drilling technologies that are unlocking substantial amounts of natural gas from shale rocks, the nation's estimated gas reserves have surged by 35 percent, according to the results of a study released last week.

The new report by the Potential Gas Committee, the authority on gas supplies, shows that the United States holds far larger reserves than previously thought. The jump is the largest increase in the 44-year history of reports from the committee.

The finding raises the possibility that natural gas could emerge as a critical transition fuel that could help to battle global warming. For a given amount of heat energy, burning gas produces about half as much carbon dioxide, the main cause of global warming, as burning coal.

Estimated natural gas reserves rose to 2,074 trillion cubic feet in 2008, from 1,532 trillion cubic feet in 2006, when the last report was issued. This includes the proven reserves compiled by the Energy Department of 237 trillion cubic feet, as well as the sum of the nation's probable, possible and speculative reserves.

The new estimates show “an exceptionally strong and optimistic gas supply picture for the nation,” according to a summary of the report, which is issued every two years by a group of academics and industry experts that is supported by the Colorado School of Mines.

Much of that jump comes from estimated gas in shale rocks, which drilling companies have only recently learned how to tap. They have developed a technique called hydraulic fracturing in which water is injected at high pressure into wells to shatter rocks deep underground, helping to release trapped gas.

The method, perfected in recent years in places like Texas and Pennsylvania, has set off a boom in new drilling but is coming under increasing regulatory and environmental scrutiny.

[2ndDivisionVet]

IIRC, don't we have more coal than all the rest of the world, combined?! About 500 years worth, at current consumption. Oh, and didn't we invent nuclear power?

[OCC]

Oh, and didn't we invent nuclear power?

Yes, and we also gave it up without a fight.

[Old Flat Toad]

“but is coming under increasing regulatory and environmental scrutiny.”

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The estimate of reserves gets bumped up to make Palin’s gas pipeline look frivolus and unneeded. Then, just like coal and oil, it will be regulated out of reach.

[ak267]

Don’t you find it “interesting” that this comes out after AGIA???? Hmmmmmmmm. Methinks Mr. Pickens is in the background :)

FYI: Shale gas is harder to extract than traditional gas wells. This makes it more expensive.

Quite frankly, if this country is gonna “put up or shut up” on natural gas, then we’ll need all sources. It maybe a glut at first, but demand (global/national) is expected to increase big time in the following few decades. Better to set things up now then get caught flatfooted years from now.

[Ernest_at_the_Beach]

For a given amount of heat energy, burning gas produces about half as much carbon dioxide, the main cause of global warming,

That is pure fantasy....

[ak267]

From the article (Shale Gas Extraction)

The method, perfected in recent years in places like Texas and Pennsylvania, has set off a boom in new drilling but is coming under increasing regulatory and environmental scrutiny. Shale gas accounts for 616 trillion cubic feet of reserves, or a third of the total, according to the report.

[WHBates]

"The finding raises the possibility that natural gas could emerge as a critical transition fuel that could help to battle global warming."

They lost me right there, all the rest is probably BS as well.

[Praxeologue]

"shale production will rise substantially to meet higher demand, as will imports"

Obama is freezing new leases and planning roadblocks for fracturing, which is the production method used for shale gas. The pretext is to reduce global warming, a convenient myth.

This will cause domestic petroleum production to decline and result in increased imports. This will decrease GNP and finance terrorism, particularly against Israel. The socialist agenda will advance, on our backs.

... at least until they run out of other people's money. This is why the article is so favorable to gas. It is a way to fund their madness.

[Lumper20]

Lost me as well. Once global warming comes up, I quit reading.

[Venturer]

I have heard the Natural Gas BS before.

[Lumper20]

Anyone who worries about global warming in the US, while a country with the population of China could care less, is not playing with a full deck. More koolaid please. When the Chinese own you real property, please tell them to buy carbon credits from Al Gore.