Posted By thestatedtruth.com on January 25, 2011

This article explains why natural gas is so cheap.  Oil companies used to just burn off the natural gas in the Gulf of Mexico  because they didn’t know what to do with it.   Who has been harking on this subject for years, yep….Oklahoma farm boy and self made billionaire T Boone Pickens.  He says we need to take advantage of the current supply situation on natural gas….it will solve many of our energy problems and make for a cleaner environment.

The world may have twice as much natural gas than previously thought, according to the rich nations’ think tank the International Energy Agency (IEA). The world may have 250 years of gas usage at current levels thanks to “unconventional gas” from shale and coal beds, Anne-Sophie Corbeau, senior gas expert at the IEA told BBC News. Estimates may even be revised upwards.

Studies are underway into newly-recoverable sources. In 2009 it had become the world’s biggest gas producer. This is phenomenal.

The U.S. achieved the change through a technological breakthrough in which firms found a way of using tiny explosions to free gas previously trapped in a common rock – shale. Other nations were now rushing to replicate the U.S. success by exploiting gas currently trapped in various types of rock where it was thought to be impossible to access.”

Categories: Commentary, Economy, National News, Oil and Nat Gas, Wall Street, World News
Tags: U.S. Huge Natural Gas Resource