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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: Bearcatbob who wrote (141688)	11/7/2010 11:58:16 AM
From: Cogito Ergo Sum	Read Replies (1) \| Respond to of 206336

Bob, If the recent commentary on Canadian oil reserves (due to new tech) ex oilsands is any indication.. I agree.. Didn't the US run out of fossil fuels a few years ago ;O) Swan

To: Bearcatbob who wrote (141688)	11/7/2010 12:00:38 PM
From: elmatador	Respond to of 206336

Look like we did better with oil rules: Natural Gas, America’s Best Bet By Michael J. Economides Posted on Nov. 01, 2010 There is little question why natural gas is considered the best energy investment due to its growing demand, environmental advantages, and supply breakthrough that has radically changed the outlook for cleaner energy. Arguably, shale gas, slated to account for 17 percent of total US natural gas supply, is the largest story in the energy business in the last 20 years. For many, natural gas qualifies as a smart investment for stock portfolios. Market forecasters understand that natural gas will be an essential ingredient in meeting the worlds growing global energy demand, particularly in countries such as China with a booming population and economy. Despite positive assurance from investors and scientists, uncertainty from politicians over one of the world’s largest natural gas resources, the Marcellus Shale in North America, is making waves today even halfway around the world in China where I am currently traveling on business. Chinese are totally bewildered at some recent actions that can only be considered as an American economic hara-kiri. In Pennsylvania, a state facing budget constraints and high unemployment, political gamesmanship is creating roadblocks to what should be a substantive economic injection to the state and American economy. The state’s governor, Ed Rendell has imposed a ban on any natural gas drilling on state owned forest land. This decision comes in light of the fact that leasing state land for natural gas extraction has been done safely and effectively for years in the Commonwealth. Many speculate this is simply political maneuvering as a result of Rendell’s failed attempt to pass a natural gas severance tax bill. Governor Rendell’s executive order, though more symbolic than substantial and based on preposterous and unsubstantiated claims by some fringe groups that somehow natural gas contaminates drinking water, will still serve to strengthen China’s resolve in securing the worlds remaining energy reserves – further weakening US energy security in the face of our growing Asian competitor. And such a substantial handicap is significant considering that companies in Europe, Australia, and Asia are closely following North America’s lead in utilizing new technology to develop unconventional sources such as natural gas from shale formations and crude from oil sands. The global economy recognizes that clean burning natural gas is essential for heating homes, powering businesses and fueling public transportation, all with a smaller carbon footprint than traditional fossil fuels. This should have pleased even the most ardent environmentalists but apparently not all. Some have inaccurately claimed that natural gas drilling presents environmental concerns over water contamination. The reality is that natural gas extraction has been done safely for decades in the United States. A 2004 EPA study concluded that there have been no confirmed cases of water contamination as a result of natural gas drilling activity. While some fringe groups have attempted to create hysteria on this issue, most accept the many potential benefits of natural gas. Scott Anderson, Senior Policy Advisor at Environmental Defense Fund recently stated that the process is safe and is a necessary part of our energy future. He also said, “we recognize that natural gas has some environmental advantages compared to other fossil fuels, so we do believe that natural gas will be around, and has a significant role to play.” While estimates vary, some experts believe that the Marcellus Shale region could hold over 500 trillion cubic feet of natural gas. This abundant resource could provide the world with a major source of clean energy in the years and decades to come. Additionally, American businesses, workers and state and federal coffers would reap massive financial benefits from fully tapping into this reserve. This week’s politicking by Pennsylvania lawmakers sent a message that the U.S. does not intend to be the world’s energy leader. China is likely to respond in kind, with, “we will.” energytribune.com