by Chuck Ring (GadaboutBlogalot ©2009).
Quote Freely From The Article – Leave The Pseudonym Alone
According to a report from the United Kingdom’s Telegraph, the world is not likely to face a severe fuel shortage, in-so-far as a declining supply of one particular type of fossil fuel is or might be concerned.
The story reports
Tony Hayward, BP’s chief executive, said proven natural gas reserves around the world have risen to 1.2 trillion barrels of oil equivalent, enough for 60 years’ supply – and rising fast.
“There has been a revolution in the gas fields of North America. Reserve estimates are rising sharply as technology unlocks unconventional resources,” he said.
The story continues
Rune Bjornson from Norway’s StatoilHydro said exploitable reserves are much greater than supposed just three years ago and may meet global gas needs for generations.
“The common wisdom was that unconventional gas was too difficult, too expensive and too demanding,” he said, according to Petroleum Economist. “This has changed. If we ever doubted that gas was the fuel of the future – in many ways there’s the answer.”
The article points out that extracting natural gas from oil shale is a “messy” process and has many dangers from chemicals used in the refining process. So, as seems to be the case in any process that involves chemicals and heat there may be consequences to bear and costs to pay … maybe consequences impossible to bear and costs to expensive to pay.
For the United States, the article offers
As for the US, we may soon be looking at an era when gas, wind and solar power, combined with a smarter grid and a switch to electric cars returns the country to near energy self-sufficiency.
Not only might there be an abundant supply of the stuff, but if those that tout (as opposed to those that doubt) are correct, if the supply is actually developed, it could tip the economic fortunes of several countries upside down and might wreak financial havoc in some countries. You can read the article and follow other links to try to grasp the reasons this might happen GAS OR HOT AIR
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