More proof we are awash in energy resources…..
I”m betting that when we need a gallon of gas or a cubic foot or two to cook our food it’ll be “discovered”. At a price of course. This system is so rotten that it is now simply amusing that the guys in charge have to duck and weave their way. it remains to be seen if China continues to put up with it. So far they are still playing the game but one wonders when they’re going to pull the plug and buy the oil companies.
And fire the President, heh heh.
02/01/10 Pittsburgh, Pennsylvania – Until just three years ago, the Marcellus was an obscure name for an obscure rock formation in the backwaters of geological research. Not anymore…
The tipping point came when Penn State professor Terry Engelder demonstrated that the Marcellus holds as much as 500 trillion cubic feet of natural gas – the equivalent of total US gas consumption for 25 years. There’s over a trillion dollars’ worth of gas down there – probably much more. Even if the estimate is off by 50% or so (and that 500 trillion cubic foot number might be on the LOW side), Marcellus is a very big resource.
Here’s a map showing all of the major shale gas-bearing basins in the US and Canada. The Marcellus is labeled No. 27 – and I don’t mean in terms of size. As you can see, the Marcellus dwarfs all the others.