Not if Obama can stop it

Natural gas cheap, abundant and will be available for a long time to come.

U.S. natural-gas production will accelerate over the next three decades, new research indicates, providing the strongest evidence yet that the energy boom remaking America will last for a generation.

The most exhaustive study to date of a key natural-gas field in Texas, combined with related research under way elsewhere, shows that U.S. shale-rock formations will provide a growing source of moderately priced natural gas through 2040, and decline only slowly after that. A report on the Texas field, to be released Thursday, was reviewed by The Wall Street Journal.

The research provides substantial evidence that there are large quantities of gas available that can be drilled profitably at a market price of $4 per million British thermal units, a relatively small increase from the current price of about $3.43.

The study, funded by the nonpartisan Alfred P. Sloan Foundation and performed by the University of Texas, examined 15,000 wells drilled in the Barnett Shale formation in northern Texas, mostly over the past decade. It is among the first to study the geology and economics of shale drilling, a relatively recent development made possible by hydraulic fracturing, or fracking, in which a mixture of water, sand and chemicals is pumped at high pressure into rocks to release gas.

Looking at data from actual wells rather than relying on estimates and extrapolations, the study broadly confirms conclusions by the energy industry and the U.S. government, which in December forecast rising gas production.

“We are looking at multi, multi decades of growth,” said Scott Tinker, director of the Bureau of Economic Geology at the university and a leader of the study.


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5 responses to “Not if Obama can stop it

  1. weakleyhollow

    …as you said, not if O’Bomber can stop it.

  2. FlyAngler

    One of the crimes in all of this are the unexploited resources sitting under the dirt and near shore of California. For all of California’s budget, job and other issues, a decision by its people to exploit those resources would bring a boon to the state like none seen in modern times. Sadly, the misguided Gov Brown and green lobby may never allow that to happen.

    Just sayin’.

  3. Anonymous

    Today is the 20th anniversary of the start of the siege during which agents of the US government slaughtered innocent American men, women, and children in Waco, TX.

    No Federal Government murderers were ever brought to trial let alone justice.

    The Fedgov murderers came from ATF and the FBI’s Hostage Roasting Team (HRT).

    US Attorney General Janet Reno had the site bulldozed to prevent any followup investigations.

  4. Anonymous Citizenette

    I just never understand why our left-wing leaders and environmentalist “green” nutjobs have no problem with us having to pay warlords and criminal regimes exhorbitant amounts of money for the oil they have or the goods they make in factories with seemingly no concern for the environment at all, meanwhile they legislate a stranglehold on drilling or manufacturing here in the U.S. We’re all living in this same little old world, aren’t we? They act as though nothing that goes on elsewhere in the world effects us. We buy everything from stinkin’ China, where the air is so foul they wear masks. Do they think that pollution won’t make it over here? Wouldn’t it be better if WE were the ones drilling and manufacturing?