"History is a wonderful thing, if only it was true"

Monday, October 12, 2009

Not Peak Oil, not peak gas

Not peak hydrocarbons.

I can recall, decades ago (I'm that old) when I wasn't interested in Nat Gas because we were going to be running out.

Guess not"...calculated that the recoverable shale gas outside of North America could turn out to be equivalent to 211 years’ worth of natural gas consumption in the United States at the present level of demand, and maybe as much as 690 years. The low figure would represent a 50 percent increase in the world’s known gas reserves, and the high figure, a 160 percent increase."

Gas Extraction Method Could Greatly Increase Global Supplies - NYTimes.com:

"Italian and Norwegian oil engineers and geologists have arrived in Texas, Oklahoma and Pennsylvania to learn how to extract gas from layers of a black rock called shale. Companies are leasing huge tracts of land across Europe for exploration. And oil executives are gathering rocks and scrutinizing Asian and North African geological maps in search of other fields.

The global drilling rush is still in its early stages. But energy analysts are already predicting that shale could reduce Europe’s dependence on Russian natural gas. They said they believed that gas reserves in many countries could increase over the next two decades, comparable with the 40 percent increase in the United States in recent years."

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