Today's Luncheon at the Hess Club - Oct 9
Today's Luncheon at the Hess Club - Oct 9
I will be opening Tuesday's presentation at The Hess Club with why natural gas prices are moving higher and why we may see double digit natural gas prices on the spot market within 90 days. I have some interesting charts to share with you.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group
Re: Today's Luncheon at the Hess Club - Oct 9
Think tank: Natural gas could help US dominate global fuel supply . Washington Examiner, opinion.
The dramatic impact of the shale revolution in restructuring world oil supply has been widely reported and analyzed. Until recently, far less attention has been afforded to the implications of the contemporaneous — and, in some ways, more remarkable — rise of U.S. natural gas.
U.S. shale technology was responsible for nearly one-third of the world’s increased production of natural gas over the past decade: the Middle East was slightly ahead, accounting for 40 percent of the new supply. And, over that period, American growth in shale gas production added 400 percent more to U.S. energy supply than did the combined growth of wind and solar, even though the latter had the advantage of policy preferences as well as at least $150 billion in subsidies over that period.
In light of physics, it is far more likely that wind and solar power will fail to meet forecast expectations than to exceed them. Any shortfall means more demand for natural gas. Fortunately, the U.S. is now the fastest-growing producer and exporter of natural gas. The biggest energy wild card on the near horizon is in how much and how quickly U.S. export capability might yet grow. The U.S. position in world energy markets today is similar to its position circa 1918.
The dramatic impact of the shale revolution in restructuring world oil supply has been widely reported and analyzed. Until recently, far less attention has been afforded to the implications of the contemporaneous — and, in some ways, more remarkable — rise of U.S. natural gas.
U.S. shale technology was responsible for nearly one-third of the world’s increased production of natural gas over the past decade: the Middle East was slightly ahead, accounting for 40 percent of the new supply. And, over that period, American growth in shale gas production added 400 percent more to U.S. energy supply than did the combined growth of wind and solar, even though the latter had the advantage of policy preferences as well as at least $150 billion in subsidies over that period.
In light of physics, it is far more likely that wind and solar power will fail to meet forecast expectations than to exceed them. Any shortfall means more demand for natural gas. Fortunately, the U.S. is now the fastest-growing producer and exporter of natural gas. The biggest energy wild card on the near horizon is in how much and how quickly U.S. export capability might yet grow. The U.S. position in world energy markets today is similar to its position circa 1918.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group