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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: marc chatman who wrote (28273)	8/25/1998 9:05:00 AM
From: R. Murphey	Respond to of 95453

Maybe Maria should forget oil and focus on natural gas drillers... like UTI Positive Gas Outlook/Demand Projected by GRI -- Drill on UTI!! GRI Baseline Sees Competitive, Low-Price Energy Future, Higher Natural Gas Demand Monday, August 24 9:17 AM ET WASHINGTON, Aug. 24 /PRNewswire/ -- Gas Research Institute today released the 1999 Edition of its "Baseline Projection of U.S. Supply and Demand," which describes a highly competitive, low-price energy future with natural gas expanding its share of the nation's total energy market. The new Baseline -- an independently prepared analysis of energy supply and demand -- shows total primary U.S. energy consumption growing 1.8 percent annually, from 94 quadrillion Btu's (quads) in 1997 to more than 115 quads in 2015. The outlook for natural gas is even more robust, with demand growing 2 percent annually to about 32 quads in 2015 (1 quad equals about 1 trillion cubic feet of natural gas) vs. 22.5 quads in 1997. As a result, the natural gas share of total U.S. energy consumption will increase from 24 percent in 1997 to 28 percent in 2015. Nearly 75 percent of the projected demand increase will come from electricity generation and industrial applications, with the balance from growth in the residential and commercial markets. GRI's Baseline outlines two major challenges that will shape future energy consumption patterns: * Ensuring that the required gas supplies are available to meet the anticipated 9 Tcf growth in natural gas demand (from 22 Tcf in 1997 to nearly 32 Tcf in 2015). * Successfully addressing the impact on energy markets of the potential implementation of the proposed 1997 Kyoto Protocols mandating reductions in carbon dioxide and other greenhouse gas emissions. The first of these challenges is projected to be met and is embedded within the 1999 Baseline results, the second represents potential incremental gas demand above the 32 Tcf level projected in the Baseline. "GRI's 1999 Baseline outlines a 'positive' future scenario for the natural gas industry," said Paul Holtberg, GRI Group Manager, Baseline/Gas Resource Analytical Center. "However, the Baseline does not imply that the process will be easy, only that it is achievable with definable and less than heroic steps, including continued investments, significant increases in drilling activity, and continuous improvements in gas supply technology." GRI cites historic precedent in contending that the projected growth in demand can be met. "Between now and 2015, the gas industry is facing a demand growth of approximately 9 Tcf over a 17 year period," the report notes. "This equates to a growth rate of about 0.5 Tcf per year. The last time the gas industry faced a similar challenge was from the mid-1950s to the early 1970s. During that period, the industry successfully addressed a 13 Tcf demand growth challenge. Meeting that challenge required supply growth of 0.8 Tcf a year, 60 percent greater than the annual supply additions that would be required to meet today's growth challenge." <<snip>> Full article: nt.excite.com:80/news/pr/980824/dc-gri-energy