U.S. Cuts Estimate for Marcellus Shale Gas Reserves by 66% !

In Part:

The U.S. Energy Department cut its estimate for natural gas reserves in the Marcellus shale formation by 66 percent, citing improved data on drilling and production.


The U.S. Geological Survey said in August that it would reduce its estimate of undiscovered Marcellus Shale natural gas by as much as 80 percent after an updated assessment by government geologists.


Sorry I do not believe this at all! A scheme to try and pull investors out of the gas? With the bull crap of carbon credits and the like it makes one question what (supposedly government) our government is doing.

http://www.businessweek.com/news/2012-01-23/u-s-cuts-estimate-for-m...

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Permalink Reply by Philip Brutz on January 24, 2012 at 4:43am

Would mind posting the whole article?  You need to be a WSJ subscriber to view it.

Permalink Reply by Doug Ross on January 24, 2012 at 11:48am

I haven't heard anything from the gas producing companies saying that the amount of gas is that much less, only the government.

This is Obama's way of promoting his solar and wind power agenda. Why would anybody in their right mind want to spend billions on Solyndra, etc. if we have this much natural gas? His solution to the problem...deny that the gas exists.  This is just sad.

Permalink Reply by Graham on March 9, 2012 at 2:03pm

Solar and wind will NOT power this country.

Permalink Reply by Robin Jackson on March 13, 2012 at 4:12pm

OPEC is responsible for gas prices not Obama.

 

Permalink Reply by Jim Litwinowicz on March 14, 2012 at 2:18am

Obama could have done much to limit the power of OPEC. 

He could have allowed companies other than BP to continue to drill in the Gulf.  When a plane crashes, that particular model may be grounded to do a safety check....not all planes.  Same when a automobile has exploding gas tanks...it is recalled not all cars and trucks.

He could have allowed Shell to develop the Arctic field where they spent over a billion dollars researching.

He could have allowed more off shore drilling.

He could have approved the XL Pipeline.

He could reduce the number of boutique gasoline formulations that drive up costs and lead to to spot shortages.

He could have lobbied to get the Nat Gas Act passed.

Instead of wasting tens of billions on solar and wind, he could have used that money on nuclear and nat gas conversion. Or better yet, not spent a penny and just stay the hell out of the free market system.

Permalink Reply by warjr on March 14, 2012 at 6:48am

I don't think this forum was meant to bash the President of the U.S.  

Permalink Reply by Billy Park Whyde on March 14, 2012 at 9:18am

 I believe Jim's post was not bashing but rather making a statement about what he believes could have been done. It just so happens the big man at the moment happens to be Obama. 

Permalink Reply by warjr on March 14, 2012 at 9:36am

Is this a politicasl forum or a natural gas forum.....  no place or time for political talk

Permalink Reply by john p halloran on March 14, 2012 at 2:42pm
It is somewhat intertwined together,big money and politics,so it does bear a bit of consideration!!!!!
Permalink Reply by Billy Park Whyde on January 24, 2012 at 12:15pm

I clicked directly to the link and it opened up. I am not a subscriber but I have registered and put comments in.

Permalink Reply by ROBERT H.DIXON JR. on January 24, 2012 at 1:12pm

How can a multitude of companies all with their own geological engineers in their midst ,all have the wrong answer, everybody copy off the other guy ,wonder how this will effect leases?

Permalink Reply by Billy Park Whyde on January 24, 2012 at 1:58pm

 A Dang good question but I bet the real people that need to make money know. With so much politics in government, I don't think any department head allows anything to hit the press without the big O authorizing it.

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