John M. Deutch, a professor at MIT is former under secretary of the Department of Energy and former director of the CIA. In an essay published in the Wall Street Journal this morning, Deutch argues for a “natural gas revolution.”

He points out that:

As recently as two years ago [when T. Boone Pickens first proposed the Pickens Plan] we had no idea that there were vast natural gas resources in unconventional reservoirs like coal seams, tight sand and shales in the United States and elsewhere.

Deutch makes the case that in the wake of the BP oil spill,

Re-examining operating practices and regulations will likely take more than a year, during which time new deepwater operations will be curtailed. The danger is that public attitudes and government policy will lead to an extended period of reduced investment and licensing.

This will turn the world’s attention to unconventional natural gas reserves:

In its 2010 International Energy Outlook, the EIA predicts growth in natural gas production principally from shale in Latin America, China, Australia, North Africa and the former Soviet Union. Global unconventional gas production is projected to increase to 7.9 trillion cubic feet in 2035 from its 2008 level of 3.5 trillion cubic feet.

Deutch suggests additional supplies of natural gas which is far cleaner than coal will build on recent developments to use it as a primary fuel for electricity production. Then he gets into the heart of the Pickens Plan:

As oil gets more expensive and natural gas cheaper, there will also be an enormous incentive to use far more natural gas in the transportation sector. Compressed natural gas can power buses, medium-duty trucks and light-duty vehicles that operate in urban environments close to fueling stations.

Closing his essay on the enormous potential of natural gas, Mr. Deutch writes:

The U.S. should have a comprehensive, long-term energy strategy. But when unforeseen events arise, we should adjust as necessary to take advantage of unexpected opportunity.

To read the entire essay, click HERE.

— The Pickens Team