"HLS" wrote in message news:HFT_j.4763$ snipped-for-privacy@nlpi067.nbdc.sbc.com... | | "Anyolmouse" wrote in message >
|
formatting link
| > If, CNG was pushed as much as ethanol as an alternative fuel ashortage | > might develop. Again, the result of supply and demand, which would also | > drive the prices up. I've been told that almost every deep well in | > Oklahoma and Texas is a gas well. | >
| > All I know is what I am told by those in the O&G business and from what | > I read about it. Are you importing CNG? or NG? | >
| > -- | > Anyolmouse | | One is related to the other. The company I recently retired from is the | worlds largest | of its type. I choose not to say the name, but you would readily recognize | it. | | A couple of years ago, natural gas reserves (compressed into underground | storage | formations) was at the lowest level in recent history, and it appeared that | the summer | recharge cycle would not be capable of refilling reserves. Drilling and | production was | at a high level...AFAIK, we did not run out of gas that year, although | prices for gas and | electricity soared. | | We are experiencing a fury of leasing and drilling in my part of the | country. Wells are | going into a gas bearing shale at some 18,000 feet. This will bring an | influx of money | to this area,but I do not believe our total gas production could supply an | expanded | market. Maybe you are right...I am not sure we will know until our backs | are really | against the wall. | | T. Boone Pickens had an interesting interview last week, and although I find | him an unsavory character to some degree, I do not challenge his expertise | in the fossil fuels business. | | He continues to be pessimistic. According to his figures, overall petroleum | production in | the world now is at the 85 million barrel per day level, while the | consumption or demand is | at the 86.5 million barrel level. Even though there are some new fields and | finds, they | offset some depleted operations and the net result is not bringing us closer | to breakeven. | | BP investments are moving heavily toward wind generators, solar, etc. | | The present and future effects of China and India,and others, are not - I am | afraid - well | understood. I would not buy an SUV right now. |
If it was the same interview that I saw, Mr. Pickens also stated that drilling in ANWR would not solve the problem either. Neither would off shore production. They would help, but with our high consumption that is all it would do.
One of the things that could help most is a voluntary reduction in consumption by the American drivers. Much like Europe has done for over a generation. I can remember in the 1950's that they were paying around $2.50 US/ Imperial gallon when gasoline prices here in the US were a tenth of that. Can't imagine anyone parking a Hummer (or other large SUV) that they still owe $30.000.00 on and buying a Toyota Corolla to drive instead.