End of the Boom: The True State of the Shale Gas Industry - News and Current Events | futures io social day trading
futures io futures trading


End of the Boom: The True State of the Shale Gas Industry
Updated: Views / Replies:279 / 0
Created: by kbit Attachments:0

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors – all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you don’t need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 
Thread Tools Search this Thread
 

End of the Boom: The True State of the Shale Gas Industry

  #1 (permalink)
Elite Member
Aurora, Il USA
 
Futures Experience: Advanced
Platform: TradeStation
Favorite Futures: futures
 
kbit's Avatar
 
Posts: 5,872 since Nov 2010
Thanks: 3,301 given, 3,332 received

End of the Boom: The True State of the Shale Gas Industry

Estimates for recoverable shale gas just keep falling. Last year, the Potential Gas Committee, an industry consortium that focuses on long-term projections, estimated that recoverable natural gas from shale deposits in the United States would amount to 687 trillion cubic feet (tcf).

(This optimistic appraisal laid the groundwork for the oft-repeated notion that the United States has 100 years of natural gas supply at current rates of consumption. The estimate was also based on so-called "speculative resources" of another 615 tcf.)

But, in its early release of the Annual Energy Outlook for 2012, the U.S. Energy Information Administration (EIA) cut its estimate of technically recoverable resources of U.S. shale gas from 827 tcf to 482 tcf. (That says little about whether all those resources will be economically recoverable.) Much of the decline in the EIA estimate comes from a downgrading of the Marcellus Shale, by far the largest of the U.S. shale gas deposits spanning vast areas of New York, Pennsylvania, and West Virginia as well as sections of Ohio, Kentucky and Tennessee.

The downgrade resulted from extensive drilling results now available as the rush to extract gas from the Marcellus Shale accelerates. The EIA cut its estimated technically recoverable resources from 410 tcf to 141 tcf.

This estimate remains well in excess of last year's estimate from the U.S. Geological Survey which put those resources at 84 tcf.

Despite the revisions, the American Petroleum Institute (API), the oil and gas industry's trade lobby, finds the 100-year figure so irresistibly round that API resists reducing it to match the official estimates in its recent ad campaign (see "One Million Jobs"). Why let the facts get in the way of good ad copy?

What ought to be acutely troubling is that the history of revisions to oil and gas resources has heretofore been one of increases. For the first time, we are now seeing not just downward revisions in estimated natural gas resources, but drastic downward revisions. That should tell us that the era of unlimited horizons for fossil fuels has come to a close.

All the advanced technology that was supposed to bring unending plenty in the form of fossil fuels is now giving us better estimates of what will be available, namely, not nearly so much as we thought.

Meanwhile, in other areas of the world the hype surrounding shale gas is also being deflated. Exxon Mobil Corp. recently announced that two exploratory wells that it drilled in Poland--a country thought to be rich in shale gas--were duds. The company had already abandoned a $75 million investment in Hungary in 2009 after drilling in so-called tight sands yielded more water than gas.

Shale gas drilling in Europe is now revealing what was earlier revealed in the United States. The industry's so-called "manufacturing model"--the idea that one could sink a well virtually anywhere in a shale gas deposit and get economically viable flows--is being discredited all over again.

Former U.S. Speaker of the House Tip O'Neill once said, "All politics is local." It turns out that all shale gas drilling is local as well. Shale gas fields have sweet spots worth exploiting, but also contain vast areas that will likely never be economical to produce.

As the news about future supply becomes more downbeat, the hype from industry-friendly media only seems to increase. Take climate change denier Patrick J. Michaels of the Cato Institute who recently wrote in The Washington Times: "The discovery of hundreds of years of natural gas in worldwide shale deposits guarantees that solar and wind will never produce much of the world’s power."

As new wells in the world's shale gas fields continue to disappoint, prepare for even more outrageous claims about future natural gas supplies--measured perhaps not in centuries, but millennia--and designed to obscure the failure of shale gas exploration results to match the industry's persistently optimistic forecasts.


End of the Boom: The True State of the Shale Gas Industry

Reply With Quote

Reply



futures io > > > > End of the Boom: The True State of the Shale Gas Industry

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Linda Bradford Raschke: Reading The Tape

Elite only

Adam Grimes: TBA

Elite only

NinjaTrader: TBA

January

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
The Benefits of Shale Gas Far Outweigh the Negatives of Fracking kbit News and Current Events 1 December 28th, 2011 02:08 PM
Abundance of Shale Gas Could Drive the US Manufacturing Industry to New Heights kbit News and Current Events 0 December 19th, 2011 08:32 PM
Shale Gas Reserves Could Reignite U.S. Economy kbit News and Current Events 0 November 3rd, 2011 12:58 PM
U.S. Slashes Marcellus Shale Gas Estimate By 80% kbit News and Current Events 0 August 24th, 2011 09:45 PM
Shale Boom in Texas Could Increase U.S. Oil Output kbit News and Current Events 0 May 28th, 2011 07:13 PM


All times are GMT -4. The time now is 03:11 PM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-12-11 in 0.08 seconds with 19 queries on phoenix via your IP 54.226.172.30