All the media big mouths spouting energy independence.Endless low cost NG supply, etc
It's all nonsense propaganda. The REAL oil men know otherwise. Not so long ago NG was
$13mm cf. That's what all the rest of the world is paying now. Fracking boom totally distorted
the picture . NG hit low of a little over $2 . That's because all the e&p cos. overproduced.The
REAL story is this:The first yr of prod can use up to 50% well prod, 2 yrs up to 70%. Becomes
more expensive to drill. Price WILL go up dramatically. Wasteful Americans will drain supply.
Oil cos .don't know how to say no because of massive investments. Cheap NG will disappear.
Then what? NG lose competitive edge? We are being DUPED by the politicos into believing
this some sort of salvation. Furthermore at some point ground water will be contaminated,
there is some truth in what you say Muck. Well production does fall off sharply compared to conventional drilling. But often secondary drilling from the same platform will restore production and can be done several times.
Further, the expanse of exploitable shales is pretty enormous in the US and in other countries.
It appears methane leakage from loose drilling and handling practices will offset the environmental benefits of NG.
I wonder how long LNG will be allowed because of the off-gassing?
Cold winter has run NG prices from low of 2.06 to high of [briefly] $6.in 3mos
. It's settled down to $2.96. still up 40% from low. if it, rises40% yr in 10 yrs
- get the point. Generally speaking U S. has overexploited precious natural
resources. Today we have little production from peak,i.e.copper,Atlantic & now
Pacific salmon [price of which is double in 2 yrs] to buffalo almost extincted to oil,
which in the 1930's was as low as .30c/bbl Thanks to Teddy Roosevelt we still have
Sequoia trees, Gr. Canyon & Yellowstone. etc. Americans never stop.destructive ways
WORST thing we could do is allow export of NG, which will ultimately self sabotage.
ourselves All I'm saying is NG is not the panacea it's cracked up to be.Even Boone
understands this. Any impact on CLNE - time will tell. What's stock worth? $6 [BV]