Re: natural gas and USU
Gas supply outlook
Despite 3D seismic and other new technology, US dry gas production has remained essentially flat after averaging an annual growth rate of just 1.4% in 1983-1994, said Papa.
"Last year, industry [capital expenditure] was up 70%, because every company knew that, if they drilled a gas well, they would get rich," he said. But that huge jump in spending resulted in just a miniscule 0.5% increase in US gas production.
In fact, production during the fourth quarter of 2001 was down 2% from the same period the previous year, Papa said. That's largely because decline rates for US gas fields have escalated to an estimated 26% last year from 16% in 1990 and will likely hit 29% this year, he said.
As a result, Papa predicted, "It will be extremely difficult to grow the US gas production base" before 2010, the earliest period by which a pipeline can be built to move Alaskan gas to the Lower 48
ogj.pennnet.com
Sounds like people may be looking for alternatives to gas burning power plants real soon.
BTW gas prices have soared over the past few days. |
