Those are good things, but temporary. When we run out, we’ll all be enslaved by Russia.
With current technology, we have enough gas for the next several hundred years. The Russkies would have to steal all our drills and keep us from making more.
Based on what the government says we have 84 years left. Meaning if we don’t discover more by 2100, we’re out. Somehow, I doubt that. did you notice Peak Oil came and went. Is anyone talking about that anymore?
We have the ability to wage economic war against Putin and he can’t do anything about it. Sixty-eight percent of Russia’s income comes from oil and gas sales. With the failure to reach an agreement during the recent conference, the Middle East is still in a punishing pump all they can mode.
We might as well help them out in their race to the bottom. Us exporting natural gas means Russia has to sell more oil to make up for their revenue losses. We may be able to escape the leash of our Saudi masters. Did you know they’ve been financing the anti-fracking agenda?
Exporting natural gas is the equivalent of putting a stake through their hearts. Anything that shoves oil and gas prices lower also means the Middle Eastern nations financing terrorism’s will have to tell many of the terrorists to get day jobs. The free lunch is over.
We won’t run out. I worked in the NG industry for 40 years. In the 70’s we rationed NG, sure that we were going to run out, but technology unleashed new supplies. That tech never sleeps and we are constantly looking at new formations. Right now the Marcellus shale produces the most gas, and the reserves there have been written up to almost triple what was originally forecast. Just beneath it is the Utica shale, which has proven to be even more prolific based on test well results. 84 years is based on what we know today. 50 years ago we thought we only had 10 years worth of future supplies, but we found more. That cycle will continue. I think we have unlimited supplies available just waiting to be discovered. Remember we only extract less than 30% from existing reservoirs with today’s technology. In future years we will learn how to extract much higher levels.