Production of Natural Gas From Shale: A Resource Blessing or Curse?
By Jason P. Brown - Economic Review, Federal Reserve Bank of Kansas City
The extraction of natural gas from shale
and tight gas formations is one of the largest innovations in the U.S.
energy sector in several decades. According to the Energy Information
Agency's (EIA) 2013 Annual Energy Outlook, total U.S. recoverable
natural gas resources were estimated to be 2,327 trillion cubic feet, up
from 1,259 trillion cubic feet in 2000. Using projected annual growth
in U.S. natural gas consumption, current U.S. reserves of natural gas
represent an estimated 70 years' worth of supply. This energy boom has
reversed a long downward trend in U.S. natural gas production. In the
1970s the U.S. energy sector seemingly conceded its decline and began
investing in global markets to survive. That trend reversed course in
the mid-2000s.http://econintersect.com/b2evolution/blog1.php/2014/02/02/production-of-natural-gas-from-shale-a-resource-blessing-or-curse
No comments:
Post a Comment