The U.S. Energy Information Administration (EIA) recently issued a report that dramatically reduced their estimates of recoverable U.S. shale gas resources. Despite this, the EIA remains optimistic about increases in production over the next few decades. Read this article for more information and links to drill down into the details.
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How much natural gas is left?
GREENBANG
Tuesday, January 31, 2012
In his most recent State of the Union address, President Barack Obama laid out an all-energy-sources-go strategy for boosting the country’s energy security. That strategy, he added, was bolstered by the fact that, “We have a supply of natural gas that can last America nearly 100 years.”
Earlier that same day, though, the US Energy Information Administration (EIA) released a sneak-peek at its 2012 Annual Energy Outlook, which included a dramatic cut in the agency’s estimate of “technically recoverable” shale gas resources from 827 trillion cubic feet to 482 trillion cubic feet. The agency attributed the revision to a rapid improvement of information based on extensive drilling in areas such as the Marcellus shale formation. Despite that correction, the EIA predicts US natural gas production will rise significantly between now and 2035, with 49 percent of supplies at the end of that period coming from shale gas.
