Posted on 02/14/2008 8:10:55 PM PST by RKBA Democrat
The story on energy has been ugly for a while now. Every extra dollar you spend at the pump is a dollar that you don't have for your own life, plus it goes to foreign enemies who may want to harm our country. But here's some good news: Natural gas, which is 97 percent domestically produced, is in oversupply. Just under 6 in 10 people heat their homes with natural gas, including Clark. He also runs his car on compressed natural gas, which emits minimal pollution compared to electricity, oil and other types of power. Clark regularly tracks the price trends in oil and natural gas -- and the natural gas picture looks great. We had an affordable winter for heating with natural gas while people who heat their homes with oil have been hurting.
Don't expect natural gas prices to completely collapse; demand will continue because so many power providers can switch to burning gas to produce electricity. You will, however, see a lot of spin-off benefits for your wallet. Clark's home energy bills have been very reasonable. When he fills his car with natural gas, it's so much cheaper than gasoline because natural gas doesn't have to be refined like oil. With oil, there are so many markups along the way from the ground to the pump. The "crack spread" refers to the markup that refineries puts on their finished product. That's before they ship it to gas stations for another markup! With natural gas, it's like a direct sale from the ground into your tank.
I can see 12.....twelve....rigs here right now from my house, I sit on the Anadarko Basin. I suggest a gas burning water heater and furnace.....if you don’t have one already...;)
“...plus it goes to foreign enemies who may want to harm our country.”
Not even a consideration for the great majority of people.
I read here not long ago we just found this amazingly large supply of natural gas. Haven’t heard a thing about it since.
Is that the field just NW of Dallas?
Exactly. We put ourselves another $1,500,000,000,000 in debt to the ChiComs, just for Iraq, and much of that goes to corruption, etc. Even rebuilding infrastructure over there while ours crumbles would be better if we weren't borrowing from the Chinese.
It’s roughly halfway between Oklahoma City and Amarillo, with the heart of it being around Elk City, OK.
IOW, it’s on Route 66!
Nope that’s the Barnet shale NW of Dallas and right under Fort Worth. They’re drilling like crazy and there are no dry holes. I’ve even heard that they’re planning to keep on drilling for the next 30 years. Happy times in the oil patch.
Prices can’t go lower soon enough. Last month’s bill was $236.70.
I keep reading about how we’re discovering new gas fields, new ways of extracting gas from shale, etc. But none of this is reflected in the cost of heating my house, which cost over $500 in January.
It is accurate to say that the US's domestic supply of natural adequate if that supply is used traditionally. But if used for electrical generation, it is inadequate.
One only needs to look at the havoc created by the shortages in 2000/2001 and the supply interruption/price increase caused by Katrina/Rita.
A world market for natural gas is being created and it won't be long before 15-20% of the US supply will be imported.
Is natural gas lower now. I use it and did not know but have come to believe that the socialists who control America will take over commercial enterprise and cause prices to rise even if there is more energy sources in America than elseware.
We are a socialist nation and socialists do not like people having money or power.
No, this was a massive field of natural gas found up in the northeast. They said it was a ground breaking discovery. They said it was compared to the first find of oil in Pennsylvania.
I read it here on this site, I think.
Natural gas, which is 97 percent domestically produced
We use about 22.7 trillion cubic feet a year.
U.S. Natural Gas Total Consumption
http://tonto.eia.doe.gov/dnav/ng/hist/n9140us2m.htm
We import about 4.6 trillion cubic feet a year or more than 20% of our use.
U.S. Natural Gas Imports
http://tonto.eia.doe.gov/dnav/ng/hist/n9100us2m.htm
We had an affordable winter for heating with natural gas while people who heat their homes with oil have been hurting.
Affordable isn't the same as cheap. Nearly 50% higher than the average for the past decade is better than oil, but quite noticeable increase for most.
U.S. Natural Gas Residential Price
http://tonto.eia.doe.gov/dnav/ng/hist/n3010us3m.htm
And we are expected to become more dependent on less friendly sources like Russia and Qatar for an increasingly larger share of our Natural Gas needs.
Annual Energy Outlook 2007 with Projections to 2030, Oil and Natural Gas
http://www.eia.doe.gov/oiaf/archive/aeo07/gas.html
That was in Pennsylvania, with overlap into W.VA and eastern part of Ohio if memory serves. UP geology dept. did a study that concluded that horizontal drilling would allow the companies to tap into close to a trillion cf(?) of gas.
Marcellus Shale?
Here is the FR thread you referenced:
http://www.freerepublic.com/focus/f-news/1961291/posts
And here’s another:
http://www.freerepublic.com/focus/f-news/1955363/posts
Clark IS a good source of information on numerous consumer issues! That said, I'd rely upon the advice of individuals who are experts in energy matters, not his observations of short-term trends!
The truth is, the more electricity generated by NG, the higher the price goes.
Canada may be peaking in CHEAP NG capacity and, with the tremendous NG use in extracting oil from the tar sands..., there will come a day when they will not export NG to the USA in any quantity (or at any low prices).
We have great quantities of NG BUT we use ever-increasing amounts of it! Both NG and oil will continue to rise in price in coming years.
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