February 20, 2010

INVERTED PEAK:

Tech-Driven Natgas Boom Shifts Energy Balance Of Power To U.S. (MARK J. PERRY, 2/19/10, Investors.com)

A new technique being used to drill through a type of rock known as shale has led to a surge in domestic natural gas production over the last three years and enabled the United States to overtake Russia recently as the world's No. 1 producer of natural gas. [...]

Thanks to a breakthrough in drilling technology, involving the use of three-dimensional seismic imaging and hydraulic fracturing of shale rock, huge amounts of natural gas are being produced in New York, Pennsylvania, Texas, Louisiana and other states. Instead of declining, domestic natural gas production is booming to record-high levels.

If estimates hold up, energy experts say the shale gas that underlies large parts of the United States will be able meet our country's needs for the next 100 years. The Department of Energy expects shale gas to account for 50% of natural gas production by 2020 if not sooner.

What's more, the same drilling techniques for shale gas are now being used in several European countries, including France and Poland, to extract their own supplies. Both China and India have huge shale-gas resources. Geologists say shale gas is so plentiful in some parts of the world that it could meet global needs for several centuries.

Posted by Orrin Judd at February 20, 2010 7:25 AM
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