Here’s the unofficial executive summary of a two-year study of natural gas supplies in the United States which was just released by the Potential Gas Committee (PGC):
Abundant. Very abundant.
The Potential Gas Committee conducts a biennial study of ‘technically recoverable’ natural gas in the United States. Last week they released their results and concluded that reserves have increased by nearly 45 percent – to 2,074 trillion cubic feet (Tcf) since the previous study ending in 2006.
That is in addition to the gas which has been used for the production of electricity, in the chemical industry, and all its other many uses over the past two years. The experts are finding natural gas reserves (and/or new ways to recover natural gas) faster than we are using it.
According to Dr. John B. Curtis, director of the Potential Gas Agency at the Colorado School of Mines,
“Our knowledge of the geological endowment of technically recoverable gas continues to improve with each assessment. Furthermore, new and advanced exploration, well drilling and completion technologies are allowing us increasingly better access to domestic gas resources-especially ‘unconventional’ gas-which, not all that long ago, were considered impractical or uneconomical to pursue.”
As anyone who has been following T. Boone Pickins and the pillars of the Pickens Plan knows, “unconventional gas” is the gas which is found in the enormous shale deposits in Texas, Louisiana, Arkansas, and Appalachia.
Dr. Curtis said,
“”Consequently, our present assessment demonstrates an exceptionally strong and optimistic gas supply picture for the nation.”
Click here to read the release from the Colorado School of Mines
— The Pickens Team