tag:blogger.com,1999:blog-4664957094233317169.post327457300192962529..comments2023-12-26T05:33:56.740-05:00Comments on John Hanger's Facts of The Day: NYT Gas Reporter Blows USGS StoryJohn Hangerhttp://www.blogger.com/profile/06565915866938789295noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-4664957094233317169.post-22927110907930928482011-08-30T08:51:36.106-04:002011-08-30T08:51:36.106-04:00I agree; he blew it. I think he caught wind of ano...I agree; he blew it. I think he caught wind of another journalist who blew it, and just jumped right in without checking his facts (especially since the spin supported his views).<br /><br />This raises a bigger question though, "What has EIA estimated, and how are these estimates being used in EIA Annual projections?"<br /><br />EIA has weighed in on technically recoverable resources-all of them. Discovered and undiscovered. Developed and undeveloped. Proved and unproved. The large upward revision in EIA's estimate this year falls into the category of discovered, undeveloped resources.<br /><br />How reliable are these estimates given we have produced such a small amount of the total gas and the sweeping assumptions made by EIA in its analysis?<br /><br />My guess? Not very. There is a huge amount of amount of gas, no doubt, just like there is a huge amount of oil in oil shale. Larger resource base, but harder/more expensive to access. How long will the shale gas glut last? Depends on how long the U.S. stays isolated in a domestic market for gas (limits demand and international pricing), and on how many wells industry continues to drill.Anonymousnoreply@blogger.com