Tuesday, August 16, 2011

Updated Marcellus To Produce 12% Of US Gas

Marcellus gas production numbers are skyrocketing and are likely to reach an incredible 7 to 8 billion cubic feet per day within 4 years, according to projections made by the energy consultancy Benetek.  At that level, the Marcellus will be producing between 2.5 trillion and 2.9 trillion cubic feet per year or about 12% of total US gas production.

That amount of gas will be equal to 3% to 4% of the total energy consumed--from all sources--in the USA and close to 1% of all energy consumed in the world.  These are phenomenal numbers.

These numbers make two things crazy:  First, the Ponzi scheme smear advanced by a few and wished to be true by others; and second the absence of a drilling tax in Pennsylvania, though West Virginia has had a drilling or severance tax on gas production in place successfully for several years now.

Production is currently about 3 billion cubic feet per day in Pennsylvania and The Marcellus Shale Coalition projects it will reach 3.5 billion cubic feet per day in 2011 or 1.2 trillion cubic feet per year.

This humongous gas production means there is no reason left to operate old, coal-fired power plants without pollution controls or to not move aggressively to replace foreign oil with domestic natural gas in trasportation. 

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