Saturday, October 24, 2009
"Energy crisis is postponed as new gas rescues the world"
Here's an interesting article.
It sure seems like good news.
That's probably why we're not hearing about it from our media...
It sure seems like good news.
That's probably why we're not hearing about it from our media...
In the U.K. Telegraph, Ambrose Evans-Pritchard reports:
"The World Gas Conference in Buenos Aires last week was one of those events that shatter assumptions. Advances in technology for extracting gas from shale and methane beds have quickened dramatically, altering the global balance of energy faster than almost anybody expected.
Tony Hayward, BP's chief executive, said proven natural gas reserves around the world have risen to 1.2 trillion barrels of oil equivalent, enough for 60 years' supply – and rising fast.
'There has been a revolution in the gas fields of North America. Reserve estimates are rising sharply as technology unlocks unconventional resources,' he said.
This is almost unknown to the public, despite the efforts of Nick Grealy at 'No Hot Air' who has been arguing for some time that Britain's shale reserves could replace declining North Sea output.
Rune Bjornson from Norway's StatoilHydro said exploitable reserves are much greater than supposed just three years ago and may meet global gas needs for generations."
