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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: d[-_-]b who wrote (273564)	2/12/2006 5:33:10 PM
From: tejek	Read Replies (1) \| Respond to of 1575084

re:. God knows at what reserve level the American industry is. I suspect a crisis is approaching......much sooner than I expected. Estimates are 1700 Tcf in the USA (trillion cubic feet) with 22 Tcf per year consumed with that increasing to 38 Tcf by 2025. So a conservative calculation 1700/30 = 56 years. That said the USA only has 3% of the worlds reserves and Canada only has 1% - of course the Middle East has 34% and the former USSR has 42%. First of all, natural gas in other parts of the world does the US little good. True, they are developing LNG ports but they are very costly to build and their production will be limited. Consequently, most NG is consumed locally and transported by pipeline. Before they had pipelines in place, most NG was burned off and only the oil was extracted. Secondly, when you look at the US's proven reserves, we have roughly 60 years left at current consumption rates. Most of the other NG talked about in the article you presented is pontential NG, not actual. There are a lot of questions whether that NG even exists, and if it does, whether its extractable. Currently, every available NG rig has been deployed in the US, but production continues to decline from one year to the next. That should concern you, but of course, it won't. Finally, in your article, they discuss how Canada has 1/3 of the world's potential reserves of NG. Well apparently, Canada is not feeling the love and is not all that confident; to whit, the following article: Message 22156939