The Monroe County production numbers for new wells continue to exceed expectations and Monroe County isn't alone. The question is how high and how many years will it go. I had the good fortune to talk to two people who think the sky is the limit, one a production man and the other a petroleum engineer. The production man said the right people in power in Washington the Utica and Marcellus alone could not only help the US but our allies as well, therefore helping our finances for generations. The petroleum engineer told me that if it were truly logic that ran the show, the alternative energy folks would fold up their tents and go home. We haven't even begun to imagine the potential in the Marcellus/Utica region, let alone the rest of the country.
The Aubrey McClendon's of the world aren't spending billions out of the goodness of their heart, he's doing it because he knows we have haven't even begun to realize the potential of the Marcellus/Utica shale. Just read some articles from about 5-10 years and it will become very apparent to all.
On a personal note, I can't help but think about my family and the countless other families in the area whose lives have revolved around oil and gas. Grandfathers, great grandfathers and in my case even great great grandfathers, some of whom had a 4th or 8th grade education, yet knew enough about geology to drill wells and eek out a living for their family to help future generations like myself get to where we are today. I owe them more than I could ever payback. I think of this every time some emaciated vegan tries to tell me that fracking is bad. After trying to talk logic to them, all I could do was say; May God lead you to truth because your just sounding foolish. We have the logic and the technology let's use it to help those in Appalachia who certainly need the money. If someone had tried to stop drilling 100 years ago, where would be today, beholden to the Saudis, or spending exorbitant money on alternative fuels? Thank God we aren't dealing with that nightmare..
Gebralter I hear you, but there's a lot of factors working in our favor. First off, even though most of us wouldn't trust Aubrey as far as we could throw him without his name behind it I doubt those investors on Wall Street would have ponied up the billions they did. Also, because Aubrey's in this card game lots of other players feel like they want to get in and get some of the jackpot money, which means property owners get paid because more land gets leased, whether it is actually drilled or not.
As far as people foolishly spending their oil and gas money, the folks I know who have come into a windfall have been pretty responsible. It is not like this land was in coastal Florida or California and the family had lots of spoiled children waiting for their inheritance. This is Appalachia where a few years ago most folks thought the only worth their land had was due to timber, if there was any of that on their property. As far as the world scene goes, as long as China continues to boom, Europe is nervous about fracking and Vladimir Putin leaves them trembling, there will be need of oil and gas.
Bitter response and quite cynical. Actually this post is offensive to me as well. Your tone needs to change
So Gebralter, tell us how you really feel.
You got that right, jason!! The "mommy and daddy" guy must be smoking something illegal - or else he's just plain nuts. My mommy and daddy never owned more than the small patch of land beneath their home, my childhood home. It was less than an acre. I bought land at a young age, first one in my family ever to own any. It took me many years to pay it off by working and paying down the mortgage. Then I bought more land, a lot more . . ON MY OWN!!
The "mommy and daddy" dude sounds like one of those idiotic Obama "you didn't build that" people, somebody who never worked hard enough to make it, so figures everyone else was born with a gold spoon. "Takers" like that are content to elect to office politicians who will help them legally steal from those of us who have worked hard for what we have. They make me sick!! They need to get a job and work for things like I had to do. And if they already have a job they need a second job. At one time, when I was younger, I worked three jobs at once to earn the money I needed. You do what you have to do. "Mommy and daddy" my ***!
Wow, I don't know what happened. This thread sure went sideways when Gebralter got all negative on us. I can only guess what that's all about, but in my initial post, I was trying to bring up all of the positives about the boom, especially considering how poor many of our relatives were a generation or two ago. I was hoping we could talk about how long this will last. From everything I have been told, it should be a long time. If anyone wants to respond to my initial post that would be great.