Posted on 04/11/2011 9:58:52 AM PDT by thackney
Drilling companies rapidly expanding their U.S. operations in places such as Pennsylvania’s vast Marcellus Shale formation repeatedly tout they are providing American jobs and securing the nation’s energy future.
Yet, a Tribune-Review examination found foreign companies are buying significant shares of these drilling projects and making plans for facilities to liquify and ship more of that natural gas overseas.
A leading player in the natural gas grab is China, whose thirst for energy to fuel its industrial explosion is growing rapidly. Others include the governments of South Korea and India, and companies in Great Britain, the Netherlands, Norway, Japan and Australia.
(Excerpt) Read more at fuelfix.com ...
This is amazing.
Utica, Upper Devonian Reserves in Pa. May Match Marcellus’ Bounty
http://rigzone.com/news/article.asp?a_id=105984
Natural gas drillers are accelerating exploration of several Appalachian rock formations that sandwich the Marcellus Shale beneath Pennsylvania, and some experts say the new discoveries may be as prolific as the Marcellus itself.
“What we’ve got is Marcellus times two,” said Terry Engelder, the Pennsylvania State University geosciences professor whose Marcellus Shale estimates in 2008 first drew public attention to the region’s shale gas potential.
Since The Inquirer reported in May that drillers had found recoverable gas in the Utica and Upper Devonian Shales, several operators have become more openly optimistic about a potential natural gas triple play in the region. The new discoveries add momentum to an industry that is rapidly reshaping the economy and the environment of large swaths of rural Pennsylvania.
“A year ago, I didn’t have a feeling the tests were going to be as large as I’ve seen,” Engelder said. “The implications of this are just amazing.”
Range Resources Corp., the Texas company that drilled the first Marcellus well in 2004, is bullish about multiplying output from its acreage, mostly in southwestern Pennsylvania.
IMO, they are after the technology to exploit their own reserves.
US is going to be a net exporter of Natural Gas in less than a decade in my opinion.
If we double or triple our Natural Gas usage via vehicles or other uses, I still think we will be a net exporter.
Oil and its energy equivalents are pretty much fungible. That’s why prices go up in the US when Libyan supplies are interrupted even though our oil doesn’t come from there. It’s a global market. If our resources are developed, they are here and we can always impound them should there be an emergency.
In a way this may be a good thing. The radical enviro-NIMBY crowd that is doing it’s best to shut down shale fracking here in PA is gonna have their hands full battling the ChiComs.
“US is going to be a net exporter of Natural Gas in less than a decade in my opinion.
If we double or triple our Natural Gas usage via vehicles or other uses, I still think we will be a net exporter.”
I see this as the most likely use for a motor fuel. Do you have any status about the idiots in my state (NY) ever allowing drilling?
Sorry, there is too much work in other locations to worry about dealing with New York.
Sadly, these is only a little sarcasm in that comment. Most shale gas is booming and it is hard to keep up with the demand for material, equipment and labor.
I have not seen any updates lately for New York. West Virgina has been slow getting on board as well.
Use the following link to zoom in on the map and see the exact location of the current drilling.
Notice how the drilling in PA comes right up to the NY border and stops?
http://gis.bakerhughesdirect.com/RigCounts/default2.aspx
Cnooc in $2.2 Billion Deal With Chesapeake Energy - NYTimes.com
Oct 11, 2010 ... Cnooc, one of the largest Chinese state-run oil companies, has agreed to buy a third of Chesapeake Energy's oil and gas assets in a south ...
dealbook.nytimes.com/.../cnooc-in-2-2-billion-deal-with-chesapeake-energy/ - Cached
Chinese “partners” will be stealing our advanced fraking technology in no time flat. It’s disgusting that we allow them to buy into a Chesapeake natural gas project. I believe with Donald Trump as president this would not go on
Anything to reduce the trade deficit.
When handed lemons, make lemonade. Sell 'em enough to reduce the trade imbalance, and buy back some of our debt.
1. Drilling is labor intensive and the jobs will be US jobs. Doesn't matter if the owner of the well is US, UK, China or whatever.
2. Oil and gas are fungible commodities. Doesn't matter who buys the gas. Whatever contributes to worldwide supply helps reduce the price.
This may be a good thing if it moderates the price swings of natural gas in the USA. I’m not sure, but I think gas is experiencing a glut now and prices have dropped a bit. If they can export some gas to keep demand for drilling up in the USA, then our drilling industry will stay healthy and be able to provide domestic demand. I am not sure what the cut off is for gas prices that make fracing feasible.
We need a crash course in motor vehicle conversion to natural gas instead of the battery power boondoggle that is still years away.
Over the road trucking should be converting to Nat gas.
Agreed, starting with my truck! This is news to me:
“4/5/2011 EPA Streamlines Aftermarket Natural Gas Conversion
The federal government just made it easier to convert cars and trucks to run on natural gas.
NGVAmerica, the trade association that represents the natural gas vehicle industry, applauded the U.S. Environmental Protection Agency’s decision to streamline the requirements for certifying aftermarket systems that are used to convert vehicles to run on natural gas. The agency’s action modifies regulations that have been in force for aftermarket conversions since April 2002 and that were adopted pursuant to the federal Clean Air Act.
The new regulations will make it less burdensome and less expensive for companies that offer vehicle conversion systems for many existing cars and trucks, says the group.
“EPA’s decision is particularly important in the case of heavy-duty fleets, since currently, because of cost, there are no EPA approved conversion systems for diesel vehicles,” says Richard Kolodziej, NGV president. “Because heavy-duty fleet vehicles are the biggest consumers of fuel, they have the greatest potential for by reducing the country’s dependence on foreign oil in the near term.””
We ain’t seen nothing yet. Just wait til the dollar collapses in the next couple of years!
Thanks Clintonfatigued.
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