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NY Times - 20 March 2009 - Natural Gas Suddenly Abundunt is cheaper

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  • NY Times - 20 March 2009 - Natural Gas Suddenly Abundunt is cheaper

    http://www.nytimes.com/2009/03/21/bu...ent/21gas.html

    HOUSTON — The decline in crude oil prices gets all the headlines, but the first globalized natural gas glut in history is driving an even more drastic collapse in the cost of gas that cooks food, heats homes and runs factories in the United States and many other countries.

  • #2
    Re: NY Times - 20 March 2009 - Natural Gas Suddenly Abundunt is cheaper

    just another way to keep us dependent on foreign fuel and to get us to send money to countrys that dont like us as here gas drilling was going crazy last summer and it took 6 months to get a rig to drill and went from 10 to 15 dollers a foot now begging for work and very little drilling going on so the US gets {expletive removed} again
    Last edited by John Mitton; 03-22-2009, 06:41 PM.

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    • #3
      Re: NY Times - 20 March 2009 - Natural Gas Suddenly Abundunt is cheaper

      Cheap foreign LNG? I say bring it on.

      Yes, there is the threat that we are somehow lulled into not drilling domestic resources and that we become dependent upon foreign gas. It does sound a little like the beginnings of a new OPEC.

      But here is the difference. With OPEC, we have no alternative. We don't have the oil here. With natural gas, we do have it here. And our resources here will provide a cap on what foreigners can charge us. If they can produce it, liquify it, ship it, and unload it cheaper than we can turn a valve--more power to them.

      We need a diversity of energy sources. The more providers, the more choices, the better we are.

      With cheaper natural gas available, we may be able to retire coal plants, put some over the road rigs on the US highways, and get some more consumer based ngvs out for us.
      Last edited by John Mitton; 03-22-2009, 06:38 PM.

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      • #4
        Re: NY Times - 20 March 2009 - Natural Gas Suddenly Abundunt is cheaper

        Folks, please review the following ToS, thanks.
        Using spaces, symbols, acronyms and other methods to express vulgarities while avoiding CNGchat's censors is still a violation.
        http://cngchat.com/index.php?pid=9#obscene

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        • #5
          Natural gas glut means drilling boom must slow

          http://www.chron.com/business/articl...ow-3467047.php


          Natural gas producers are being forced to scale back as prices fall, storage caverns fill up
          By Jonathan Fahey, AP Energy Writer | Associated Press*–*8 March 2012

          NEW YORK (AP) -- The U.S. natural gas market is bursting at the seams...

          If current production and consumption trends were to continue, Bentek estimates that storage facilities would be full on October 10. Storage capacity, which has grown by 15 percent over the past decade, cannot be built fast enough to address the rapidly expanding glut. And analysts note there is little financial incentive to build more anyway...

          Analysts say that before long companies could have to start slowing the gas flow from existing wells or even take the rare and expensive step of capping off some wells completely...

          The low price brought on by the glut has increased demand for natural gas among industrial users and utilities. Makers of chemicals, plastics and fertilizers that use natural gas as a feedstock are expanding. Garbage trucks, buses and delivery vehicles are using more natural gas. Electric power producers are switching from coal to natural gas whenever possible...
          .

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