Natural gas may be cheap right now, but pound for pound you can get an order of magnitude more energy from a pound of uranium than a pound of natural gas.
There is a future for both sources of energy.
It’s all about the natgas act and spending our money foolishly.
The problem is that cheap gas will also kill cheap gas.
Gas drilling rigs in operation have declined from something like 1600 several years ago to only 620 today. With record low gas prices, it makes more sense to drill for oil. Fracked wells also have much higher investment costs than regular gas wells and that can’t be justified with $2.3 mmbtu gas
Fracked gas is excellent, but nuclear is another obvious cheap, long-term option.
Facepalm.
These low NatGas prices are coming to an end in under 24 months. There is not enough exploration occuring to maintain this level of production:
http://www.foxbusiness.com/news/2012/03/13/anadarko-ceo-sees-natural-gas-price-rebound-after-2014/
“Published March 13, 2012
Dow Jones Newswires
THE WOODLANDS, Texas -(Dow Jones)- Anadarko Petroleum Corp. (APC) expects natural gas prices to rebound significantly from their current depressed status after 2014, Chief Executive Jim Hackett said Tuesday.”