Energy crisis is postponed as new gas rescues the world

[charrison]

linkage

The World Gas Conference in Buenos Aires last week was one of those events that shatter assumptions. Advances in technology for extracting gas from shale and methane beds have quickened dramatically, altering the global balance of energy faster than almost anybody expected.


Tony Hayward, BP's chief executive, said proven natural gas reserves around the world have risen to 1.2 trillion barrels of oil equivalent, enough for 60 years' supply ? and rising fast.


...

Rune Bjornson from Norway's StatoilHydro said exploitable reserves are much greater than supposed just three years ago and may meet global gas needs for generations


....


The US is leading the charge. Operations in Pennsylvania and Texas have already been sufficient to cut US imports of liquefied natural gas (LGN) from Trinidad and Qatar to almost nil, with knock-on effects for the global gas market ? and crude oil. It is one reason why spot prices for some LNG deliveries have dropped to 50pc of pipeline contracts.

...

Texas A&M University said US methods could increase global gas reserves by nine times to 16,000 TCF (trillion cubic feet).

Natural gas looks to be huge in the future as there massive natural gas shale fields all over the US and we have the technology to tap them. The fields might even be large enough to displace the coal we use to day. Maybe even an easy solution to global warming crowd as it is easier to do than nuclear.

 

[Fear No Evil]

Originally posted by: charrison
linkage

The World Gas Conference in Buenos Aires last week was one of those events that shatter assumptions. Advances in technology for extracting gas from shale and methane beds have quickened dramatically, altering the global balance of energy faster than almost anybody expected.


Tony Hayward, BP's chief executive, said proven natural gas reserves around the world have risen to 1.2 trillion barrels of oil equivalent, enough for 60 years' supply ? and rising fast.


...

Rune Bjornson from Norway's StatoilHydro said exploitable reserves are much greater than supposed just three years ago and may meet global gas needs for generations


....


The US is leading the charge. Operations in Pennsylvania and Texas have already been sufficient to cut US imports of liquefied natural gas (LGN) from Trinidad and Qatar to almost nil, with knock-on effects for the global gas market ? and crude oil. It is one reason why spot prices for some LNG deliveries have dropped to 50pc of pipeline contracts.

...

Texas A&M University said US methods could increase global gas reserves by nine times to 16,000 TCF (trillion cubic feet).

Natural gas looks to be huge in the future as there massive natural gas shale fields all over the US and we have the technology to tap them. The fields might even be large enough to displace the coal we use to day. Maybe even an easy solution to global warming crowd as it is easier to do than nuclear.

Didn't you get the talking points? Healthcare is the crisis these days. Gas is so 2007.

 

[Infohawk]

Natural gas isn't easily transported. It can delay the crisis, but it ain't postponing it.

 

[charrison]

Originally posted by: Infohawk
Natural gas isn't easily transported. It can delay the crisis, but it ain't postponing it.

Well the point here, is natral gas is all over. You dont have to transport it very far.

 

[miketheidiot]

enough for 60 years' supply

i'm saved :roll:

 

[glenn1]

Originally posted by: charrison
linkage

The World Gas Conference in Buenos Aires last week was one of those events that shatter assumptions. Advances in technology for extracting gas from shale and methane beds have quickened dramatically, altering the global balance of energy faster than almost anybody expected.


Tony Hayward, BP's chief executive, said proven natural gas reserves around the world have risen to 1.2 trillion barrels of oil equivalent, enough for 60 years' supply ? and rising fast.


...

Rune Bjornson from Norway's StatoilHydro said exploitable reserves are much greater than supposed just three years ago and may meet global gas needs for generations


....


The US is leading the charge. Operations in Pennsylvania and Texas have already been sufficient to cut US imports of liquefied natural gas (LGN) from Trinidad and Qatar to almost nil, with knock-on effects for the global gas market ? and crude oil. It is one reason why spot prices for some LNG deliveries have dropped to 50pc of pipeline contracts.

...

Texas A&M University said US methods could increase global gas reserves by nine times to 16,000 TCF (trillion cubic feet).

Natural gas looks to be huge in the future as there massive natural gas shale fields all over the US and we have the technology to tap them. The fields might even be large enough to displace the coal we use to day. Maybe even an easy solution to global warming crowd as it is easier to do than nuclear.

The global warming crowd doesn't care for solutions that are technologically possible now like natural gas or nuclear. It only counts for them if you support something that is only cost effective against conventional sources when receiving massive government subsidies (wind, solar), or better yet doesn't exist yet (the never-ending "research and development of alternative energy" sinkhole).

 

[Lemon law]

In terms of global warming, Natural gas is greener than oil, but still carbon negative.

 

[alien42]

i thought 'drill baby drill' was patented by Sarah Palin for oil usage exclusively.

hate to burst the OPs bubble but replacing some oil usage with natural gas is a big part of our cleaner energy future and most who consider themselves 'green' believe this. converting the semi trucks in the US to natural gas would not only reduce fuel costs and emissions but also spur business and innovation.

 

[IGBT]

Originally posted by: Lemon law
In terms of global warming, Natural gas is greener than oil, but still carbon negative.

ahh the carbon-con.

 

[ericlp]

Who need natural gas when oil is still at 60-70 a barrel? Besides, I don't see any mass rush to retrofit the cars to run on natural gas. When that happens wake me up, other wise the OP is asleep at the switch. Drill Baby Drill was for oil, now your gonna switch foot to tell us it was natural gas? Nice try....

 

[MadRat]

Global cooling is upon us NOW and with it the food supply will be in decline. Global warming is so 2008.

 

[boomerang]

Originally posted by: MadRat
Global cooling is upon us NOW and with it the food supply will be in decline. Global warming is so 2008.

Never waste a good crisis.

 

[Cuda1447]

Originally posted by: Infohawk
Natural gas isn't easily transported. It can delay the crisis, but it ain't postponing it.

 

[StageLeft]

Originally posted by: ericlp
Who need natural gas when oil is still at 60-70 a barrel? Besides, I don't see any mass rush to retrofit the cars to run on natural gas. When that happens wake me up, other wise the OP is asleep at the switch. Drill Baby Drill was for oil, now your gonna switch foot to tell us it was natural gas? Nice try....

All green energy means is finding another source, potentially a clean one though, for electricity. If power plants could run more on gas it would be that source and less need for solar, wind, water. It lacks the green aspect but it would soften the blow of peak oil, especially since a lot of power plants are still burning oil as their key energy source.

 

[charrison]

Originally posted by: ericlp
Who need natural gas when oil is still at 60-70 a barrel? Besides, I don't see any mass rush to retrofit the cars to run on natural gas. When that happens wake me up, other wise the OP is asleep at the switch. Drill Baby Drill was for oil, now your gonna switch foot to tell us it was natural gas? Nice try....

Because it can start to displace coal.

 

[charrison]

Originally posted by: alien42
i thought 'drill baby drill' was patented by Sarah Palin for oil usage exclusively.

hate to burst the OPs bubble but replacing some oil usage with natural gas is a big part of our cleaner energy future and most who consider themselves 'green' believe this. converting the semi trucks in the US to natural gas would not only reduce fuel costs and emissions but also spur business and innovation.

The point being until the shale formations were able to be tapped there was not enough natural gas to displace coal. Now that is quite possible.

 

[Ausm]

My oldman has enough natural gas to keep the world going right now! You wouldn't even have to drill

 

[PricklyPete]

Originally posted by: Lemon law
In terms of global warming, Natural gas is greener than oil, but still carbon negative.

So do I need to pay Al Gore some money to use it then?

 

[Jaskalas]

I suppose this helps delay the inevitable. I still wouldn?t mind a push for alternative energy, as it would be nice to gently transition instead of all of a sudden hitting a brick wall on energy. This essentially gives us the time required to transition.

 

[MotF Bane]

If I can run an internal combustion engine, I'm all set. :beer:

 

[ElFenix]

Originally posted by: Lemon law
In terms of global warming, Natural gas is greener than oil, but still carbon negative.

and if you pump carbon dioxide back into the formation?




there's a massive natural gas play being developed very cheaply here in texas. the thing runs from mexico all the way past san antonio into central texas.




edit: anyone know if any of the various energy bills require tractor trailers to adopt aero improvements? like some of those on the SmartWay list? i guess increased fuel costs will force adoption anyway.

 

[artikk]

I for one am waiting for fusion but it's not currently feasible or for the next 20+ years probably. The best we can hope without invention of new technology is the higher percentage of integration of existing alternative energy generation solutions such as wind/solar,etc which is right now being held back by local special interests(nimby, etc) and high costs.

 

[Genx87]

The field out near Dickinson ND is supposed to be huge. Lots of construction out there.

 

[Atreus21]

Isn't diesel supposed to have less emissions and run cleaner than gasoline?

 

[FerrelGeek]

Originally posted by: Atreus21
Isn't diesel supposed to have less emissions and run cleaner than gasoline?

It certainly is much better for the big rigss. And with improved engine controls, you see much less of the belching black smoke when they hit the accelerator.