Posted on 05/04/2014 4:34:34 PM PDT by ckilmer
Coal is still the number one producer of electric energy. It’s decline in production has been offset by nat gas fired plants. I posted a chart that showed electricity production by type in another thread earlier this week.
Why is the price of gasoline going up number one and, what about the conflict over water with agriculture??
I do think the growth curve will flatten.. there simply aren’t enough physical drilling rigs available to keep up this pace of growth.
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what they’re doing is increasing the output per rig by drilling more wells from a single rig. so rigs can have 20-30 wells targeting different depths and directions and distances from the rig.
the real deal is out in the permian basin where there are a dozen or more different levels of oil and gas. When the permian basin starts scaling up to its potential production rates are going to rise far above expectations.
judging by reports from the Permian basin, that line will keep going straight up for at least another four more years.
Bill Bennett had a guy on who’s name escapes me says this Fracking Revolution will be a 50 year ( growth ) event for the economy and if I understood him correctly, maybe the biggest paradigm changer we have seen and it makes you wonder which historical game changing inflection points it may eclipse...
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the game changer that this one eclipses is the Saudi arabian oil production that went up 6 million barrels@ day from roughly 1969-75. Because the saudis at the time could pull oil out of the ground at the time for .25-.50 cents a barrel—they killed American oil production which had been going up steadily since WWII. As a result US oil production went down for 35 years from 1970-2005.
That said, I think that natural gas trains trucks and buses plus electric cars and maybe hydrogen cars at some point will stop and then turn down the demand for gas. When that happens is beyond me. But it won’t be 50 years. More likely it will be less than 30 years.
Thanks, wouldn’t have occurred to me, but the problem is still greentards.
No doubt. It could certainly be “better”. I just don’t want FReepers to make comments about oil/gas that aren’t true.
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