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USGS Ups The Ante On Shale
IBD Editorials ^ | August 25, 2011 | Staff

Posted on 08/25/2011 4:42:13 PM PDT by Kaslin

Power: Despite efforts in the media and Congress to shut it down through fear and falsehoods, a new estimate of America's most promising energy source portends even more gas, oil — and jobs.

The U.S. Geological Survey (USGS) announced Tuesday that the Marcellus Shale formation that straddles the northeastern United States may hold a staggering 84 trillion cubic feet (tcf) of recoverable natural gas, up significantly from the last official government estimate of 2 tcf made in 2002.

The USGS said the estimate came from new information about the gas-rich formation underlying New York, Pennsylvania, Ohio and West Virginia, and from technical improvements in how wells are drilled and the gas is extracted.

Those who argue that the world is running out of fossil energy are wrong once again. They ignore the fact our resources are limited only by our imagination and the will to develop them.

The 84 trillion tcf figure is the mean of a range of possible gas volumes. There's a 95% chance that the formation has 43 tcf of gas and a 5% chance it may hold as much as 144 tcf. In addition, the formation may hold anywhere from 1.5 billion to 6.1 billion barrels of natural gas liquids.

This news strikes terror in the hearts of environmentalists, and government ideologues simply cannot handle shale gas and the prospect of what it holds for the American future. Shale gas doesn't require a government subsidy like wind and solar energy do; it is profitable, abundant and versatile in that it can be used to power the grid and as a transportation fuel.

(Excerpt) Read more at investors.com ...


TOPICS: Business/Economy; Editorial; Government; US: Pennsylvania; US: West Virginia
KEYWORDS: economy; energy; fracking; ibd; ibdenergy; ibdshale; jobs; marcellus; marcellusshale; natiralgas; oil; shale; shalegas; shaleoil; shalerock; usgs

1 posted on 08/25/2011 4:42:16 PM PDT by Kaslin
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To: Kaslin

Death to the Greenies!!!


2 posted on 08/25/2011 4:46:33 PM PDT by Recon Dad ("Don't forget, incoming fire has the right of way..")
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To: Kaslin

I have VERY some old NY books. It has a good explanation and mapping of what’s in the area and along the NY/Penn border.


3 posted on 08/25/2011 4:48:55 PM PDT by Sacajaweau
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To: Kaslin

Funny, local news reported the opposite:

“Shale reserve estimate slashed”

Someone is misinformed.

http://www.pittsburghlive.com/x/pittsburghtrib/business/s_753018.html

RS.


4 posted on 08/25/2011 4:52:32 PM PDT by RS_Rider (I hate Illinois Nazis)
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To: Sacajaweau

The rocks have been well-known for over 100 years. It has been horizontal drilling and multi-stage fracing that have unlocked their potential. We now have a natural gas glut in this country.


5 posted on 08/25/2011 4:56:18 PM PDT by crusty old prospector
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To: RS_Rider

At most, only one of these two reports can be true.


6 posted on 08/25/2011 5:04:14 PM PDT by gorush (History repeats itself because human nature is static)
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To: gorush

“At most, only one of these two reports can be true.”

Hopefully the higher estimates are understated.


7 posted on 08/25/2011 5:10:53 PM PDT by RS_Rider (I hate Illinois Nazis)
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To: Kaslin

Greenies need horse whipped then deported.


8 posted on 08/26/2011 9:27:43 AM PDT by Cheetahcat (Carnival commie side show, started November 4 2008 ,A date that will live in Infamy.)
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To: Kaslin
Hydro-Fracking is the new “Global Warming”

Marcellus Shale formation is the new ANWR

The same people who lost the globull warming debate, have now jumped in with both Berkinstocks, to the oil shale issue. Instead of being happy that natural gas is CLEAN. That a huge energy discovery right here in the U S of A, will provide tens of thousands of jobs, In the NORTHEAST of all places.

These people (progressives or Liberals, or Communists (one & the same, no?)) are just ANTI-AMERICAN. They HATE America. They want everyone to grow bean sprouts in their yards, compost the leftovers, ride bicycles, use chemical toilets, etc. Fine, for themselves, NOT FOR ME! How about you?

We need to SHAME these freakazoids. We need to LOL (laugh out loud) at them. Forget Civility!!! Learn to use CHUTZPAH!

CHUTZPAH
Synonyms: audaciousness, audacity, brashness, brass, brassiness, brazenness, cheek, cheekiness, effrontery (also chutzpa or hutzpah or hutzpa), crust, face, gall, nerve, nerviness, pertness, presumption, presumptuousness, sauce, sauciness, temerity

Related Words: arrogance, assurance, cockiness, confidence, hardihood, overconfidence, sanguinity, self-assurance, self-confidence; discourteousness, disrespect, impertinence, impoliteness, impudence, incivility, inconsiderateness, inconsideration, insolence, rudeness, ungraciousness; back talk, sass; swagger, swash

We need to put these geeks in their place. We have to stop them from running and RUINING our country.

Like I always say, let them write music, books, poems. create art, movies, plays. Sing, dance, play musical instruments. They are GREAT at these things!!!!

Tell them to STAY THE HELL OUT OF POLITICS and OUR MILITARY. Conservatives will run the important stuff for the good of everyone.

9 posted on 08/26/2011 9:39:40 AM PDT by faucetman (Just the facts ma'am, just the facts)
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To: faucetman

In my opinion the greenie efforts to stop fracking will be an EPIC FAIL.

I have seen Pennsylvania Democrat politicians at fracking industry events. Their eyes are glazing over and their tongues are wagging at the mere thought of all the cash that is headed their way.

These enviros are just useful idiots. Once the Dems finish using them to impose an extraction tax to get more of their fingers in the pie they’ll be thrown under the bus.


10 posted on 08/26/2011 10:01:35 AM PDT by Buckeye McFrog
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To: Buckeye McFrog; thackney; Smokin' Joe

Bump


11 posted on 08/26/2011 10:11:25 AM PDT by CPT Clay (Pick up your weapon and follow me.)
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To: Kaslin

ANd why aren’t the pubs beating the crap out of BO and the rest of the demons with it!


12 posted on 08/26/2011 10:14:36 AM PDT by Always Independent
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To: Always Independent

You are ignoring the fact that we only have the House while the rats have both the Senate and the White House. When we have all three then you can bitch if nothing is done about it


13 posted on 08/26/2011 10:29:49 AM PDT by Kaslin (Acronym for OBAMA: One Big Ass Mistake America)
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To: faucetman
We need to put these geeks in their place.

They aren't geeks. Geeks may be socially awkward, but they are usually very competent. The greenies are just whackos with an axe to grind.

14 posted on 08/26/2011 10:53:12 AM PDT by Smokin' Joe (How often God must weep at humans' folly. Stand fast. God knows what He is doing.)
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To: Kaslin

Similar upgrades in estimated reserves happened with the Bakken.


15 posted on 08/26/2011 10:57:18 AM PDT by Smokin' Joe (How often God must weep at humans' folly. Stand fast. God knows what He is doing.)
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To: Buckeye McFrog
“NO FRACKING” signs are everywhere here in Ithaca, NY. and surrounding areas. They are passing no fracking laws, regulations & permits to discourage fracking or drilling. The are even passing laws at the county level to limit truck traffic and impose fines and or road use fees to discourage fracking/drilling.

They are even proposing a ban on fracking in the Ithaca city limits. It is an urban area. I doubt you could find a buildable lot in the city. I doubt any gas companies would ever drill in the city. It's just patronizing to the Gay, Lesbian, Cross Dressing, Trans Gender, leftists that run the city government.

I hope you are correct and other areas develop this resource. It is very unlikely it will ever happen in my area.

16 posted on 08/26/2011 10:58:13 AM PDT by faucetman (Just the facts ma'am, just the facts)
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To: faucetman
Marcellus Shale formation is the new ANWR

I have done some napkin calculations.

Marcellus is much more than ANWR. With 84 Trillion recoverable cubic feet at current production prices it is even more than Saudi Arabia. It is the equivalent of Saudi Arabia when they were producing their maximum production of 10 million barrels a day, for about 4.2 years. I am of the opinion the 84 Trillion figure will be increased for Marcellus and that does not include gas oils. This is for only one shale play. 84 Trillion cubic feet of gas is equivalent to 15 billion barrels of oil.

The Marcellus gas also has very low production and transportation costs. There are no refineries to send it to. Very little post production is required before transmission. Even the wellhead gas pressures are sufficient for high pressure transmission. The bottleneck now are gathering lines (this is a bit of a misnomer, since the gathering lines tend to be large pipelines because of the high production rate). This is where FERC and the leftist have placed there boot on the neck of cheap, plentiful, safe and clean energy independence. The attack on the drilling itself strikes me as a leftist rear guard action to divert attention away from the real action in the Federal Government.
17 posted on 08/26/2011 12:22:29 PM PDT by PA Engineer (SP/XX12: Time to beat the swords of government tyranny into the plowshares of freedom.)
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To: Kaslin

It should be coming up in front of the media now. Not making a poin about it now only helps them.


18 posted on 08/26/2011 2:01:16 PM PDT by Always Independent
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To: Nachum; markomalley; Clairity; Carlucci; grey_whiskers; meyer; WL-law; Para-Ord.45; ...

Energy ping


19 posted on 08/26/2011 5:47:36 PM PDT by raptor22 (Join me on Twitter @gerfingerpoken)
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To: Kaslin

I wonder if in areas where these greenies are uncooperative with the oil companies, if they could simply up the price of gas to 4 or 6 times the going rate of those areas that cooperate.

Screw these people... if they want to be out of gas, then run them out of gas & money.


20 posted on 08/26/2011 6:34:29 PM PDT by Gator113 (Palin 2012, period.....)
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To: crusty old prospector

A year and a half ago, I put in a dual fuel HVAC system (heat pump or gas furnace for heat, under my control), since the gas potential wasn’t clear, and I wanted to be able to work with whatever was cheapest as a heating energy source.

If I had it to do over again today, I probably would have forgotten about the heat pump and just done conventional HVAC with a gas furnace.


21 posted on 08/26/2011 7:08:53 PM PDT by FreedomPoster (Islam delenda est)
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To: RS_Rider

It is positive info http://oilprice.com/Energy/Natural-Gas/New-Update-for-U.S.-Natural-Gas-Supplies-in-the-Marcellus-Shale-Formation.html


22 posted on 08/29/2011 10:46:29 AM PDT by AdmSmith (GCTGATATGTCTATGATTACTCAT)
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