EIA Report

[dan_s]

http://www.eia.gov/forecasts/aeo/executive_summary.cfm

The U.S. Energy Information Administration has just issued its early release energy outlook for the coming year. The full report is not out until March, but there is one whopper of a number in the report, albeit not completely unexpected. The EIA is now estimating that unproved shale gas reserves are almost double(!) what they were projected to be last year. Reserves are estimated to be 827tcf which compares to 480tcf from exactly a year ago. This is an incredible increase the EIA informs us is reflective of “additional information” and a widened level of drilling activity, both in existing and new shale plays. In addition, according to the graph, the speed and level of growth will not decrease either: 45% of the country’s gas production is predicted to come from the shales by 2035!

Natural gas can reduce our dependence on foreign oil and save our economy. When will our elected fools get this?