Posted on 01/21/2011 8:16:37 AM PST by Ernest_at_the_Beach
IEA: Natural Gas Can Supply World For 250 Years
Supplies of natural gas could last more than 250 years if Asian and European economies follow the U.S. unconventional reserves, the IEA said.
The abundance of shale gas and other forms of so-called unconventional gas discovered in the United States prompted a global rush to explore for the new resource.
The International Energy Agency said Australia is taking the lead in the push toward unconventional gas, though China, India and Indonesia are close behind. European companies are taking preliminary steps to unlock unconventional gas as are other regions.
“Production of ‘unconventional’ gas in the U.S. has rocketed in the past few years, going beyond even the most optimistic forecasts,” said Anne-Sophie Corbeau, a gas analyst at the IEA. “It is no wonder that its success has sparked such international interest.”
Shale gas production in the United States is booming and the IEA estimates that unconventional gas makes up around 12 percent of the global supply.
Global supplies of natural gas could last for another 130 years at current consumption rates. That time frame could double with unconventional gas, the IEA said.
“Despite the many uncertainties associated with production, countries are still prepared to take risks and invest time and money in exploration and production, because of the potential long-term benefits,” Corbeau said.
from the GWPF
Don’t you worry. The Department of Energy will do everything they possibly can to find a reason for us NOT to go after this.
This will be a great spur to the Left and the Greens to shut down the production of natural gas.
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Nibor25 says:
Should read…apart from the UK
Shale gas moratorium in UK urged by Tyndall Centre for Climate Change Research – http://www.bbc.co.uk/news/science-environment-12190810
Sigh…..
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Now what about carbon trading to keep us from using Coal...
Same folks at work in the UK...it seems. !!!
See #6.
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keith at hastings uk says:
“Peak oil” has become a refuge for CAGW believers still intent upon taxing “carbon” and covering the world with windmills. Good to see yet another hiding place being demolished. Wonder how the Japanese are getting on with exploiting methane clathrates (and the Indians with Thorium reactor research?
Meantime, we in UK expecting the lights to go out, if Mr Huhne stays in charge of energy policy.
Not to speak of most of Alaska.. that the federal gov't OWNS....
Oh! and the Oil Shale and oil sands.. has barely been touched and Bakken in North and SOuth Dakota.....
Oil Sands? In Alberta?
Anyway we get the picture. But not one President has ever drilled a well. That belongs to guys like me!
I am looking forward to a SPIRITED republican primary season which should help us make our decision on who we like best.
Regardless of that outcome, I’ll be happy to vote for whoever wins the Republican nomination given that they will run against Obama. The 2012 election will not be one of those “stay home because I don’t like the nominee” elections. Obama has to lose in 2012. Period.
The states need to grab back the federal land the Dems locked up for the Saudis. The USA has so much more energy that Saudi Arabia. Energy creates wealth and could pay the debt off. Maybe if Americans shut off the TV spewing endless Obama propaganda & 15 year olds having interecourse we might have a country again.
Already started...
It may have been on Fox a style section or something taking to a bunch of College Females about what is going on.
One skull full of mush looking like she a throwback from a Grateful Dead Concert mentioned her activism against Shale Gas. I do not know where these loons think they are going to the energy converted to electricity for their Plug in Prius, Volt etc. Unicorn Farts?
Oil sands barely touched?
About half of Canada’s oil production comes from oil sands.
The opportunity exists for the Republicans to bail out SS by creating a bond fund investment avenue to underwrite a massive expansion of our NG distribution network. It would mean many jobs, a handsome return to the taxpayers, eliminate dependence on Saudi oil.
Then we can all be in on the action! I wanna be a Nat Gas Tycoon.
In the U.S...
Boy you are on to something.
1.) We are 200 Trillion in debt with all entitlements etc.
2.) Create a trust very much like what Sarah's Alaska has and rather than the money going to individual Americans it goes to this trust to pay off all existing debts.
3.) It might require a change to the consitution where in which the mineral rights of such resources go to us as in Alaska, FR-er legal eagles please help!
Then I agree.
Cheers.
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