Header: Facts about earth's energy resources (natural gas specifically)
Information obtained from Understanding Earth , copyright 1994
Remaining non-renewable world energy resources amount to about 320,000 quads (a
unit of energy content):
Uranium 4.8 million tons= 154,000 quads (48%)
Coal 6.8 trillion tons= 135,000 quads (42%)
Shale oil 2300 billion barrels= 13,500 quads (5%)
Crude oil 1700 billion barrels= 9839 quads (3%)
NATURAL GAS 7400 trillion cubic feet= 7572 quads (2%)
Furthermore...
"The resources of natural gas are comparable to those of crude oil (as seen above) and
may actually exceed them. Estimates of natural gas resources have been rising in recent
years. Exploration for this clean fuel and geologic [gas] traps in new geologic settings
have been identified, such as in very deep formations, overthrust belts, coal beds, tight
(somewhat impermeable) sandstones, and shales.
The burning of natural gas releases less carbon dioxide per unit of energy (quad) than
the combustion of coal or oil. It is less polluting, and is easily transportable. Natural gas
from fields in Siberia for example, are piped to factories and homes in Germany. For
these reasons, natural gas is a premium fuel. Natural gas accounts for about 25% of all
fossil fuels consumed on the United States each year, most of it for industry and
commerce (52%), followed by residential use (28%) and generation of electric power
(18%)... American resources [of natural gas] should last about 35 years at current rates
of use, probably longer with the tapping of accumulations in the new settings mentioned
above..."
Hmmm, wonder what our ME geologist has been up to for the past few DECADES?
The new management could have me holding on to this one for quite awhile. Go long on
this one until you're convinced otherwise, IMO, it will be a wild ride.
fellow prot‚g‚ |
