Shale Technology Has Been Success

As of Friday, November 18, 2011

Horizontal drilling and hydraulic fracturing technologies have arrived just in time.

Natural gas supplies about 22 percent of our total energy requirements, and that is projected to remain fairly constant to at least 2030. The green energies such as solar and wind account for less than 1 percent of electricity generation and are not projected to reach more than 2 percent by 2030, according to our own Department of Energy. At the rate these green industries are failing and taking our tax money with them, even that seems like a stretch.

In the early part of the last decade, domestic production of natural gas from conventional sources was falling like a stone driving up the price. In October 2005, the price for a thousand cubic feet of natural gas averaged $10.33 (200 percent higher than today) and spiked as high as $14.

People who heated their homes with natural gas were very concerned, and the higher price for this basic fuel rippled throughout the economy.

Today, thanks to these technologies, natural gas is priced at about $3.40 due to the increase in supply from shale gas development.

Each of us has money in our pockets today or exercised our own discretion in spending the money saved on other consumer items.

Shale gas is being developed aggressively in about 15 states. Half of the natural gas consumed today is produced from wells drilled within the last three-and-a-half years, and natural gas produced from shale and tight sands using horizontal drilling and “fracking” technologies account for 46 percent of total gas consumption.

This effort has been so successful that we have now increased our total natural gas reserve estimate from a 10-year supply of 211 trillion cubic feet to a 90- to 116-year supply of 1,750 trillion cubic feet.

Charles Holbrook

Pinehurst

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JimHeim 1 year, 6 months ago

With so many fracking problems concealed by non-disclosure agreements, it's hard to determine the seriousness of the problem. But as water pollution, earthquakes and other issues emerge, the situation might change.

Until then, we are deluged with a well-financed propaganda program designed to confuse the issues and hide the problems. If the past is any guide (tobacco, climate change), the big-money interests will hold off meaningful action until it's too late.

GJohn 1 year, 6 months ago

So, VassDude, you believe people should "earn" their way through life by picking up a small amount of money while potentially causing cancer for others and destroying our ground water? Interesting.
Also interesting the path you laid out: Wall Street, Fracking, Profits, Success, and Happiness all seem to go hand-in-hand to you. Not to me.

moorenc 1 year, 6 months ago

I don't see how anyone can think fracking has been proven a success with people in many different areas screaming there are problems. Not to mention I would guess total ill effects have yet to be seen. Although if you mean a success by the way the gas companies seem to come in trick people without regard for their or the enviroments best interest and turn a profit then yes it's been a success for soom. However that doesn't mean NC has to give in just because they want us to. I personally feel having enough water and watching out for our children's best interest and the enviroment is more important.

JimHeim 1 year, 6 months ago

VassDude, what has socialism to do with the safety of our drinking water?

SH59 1 year, 6 months ago

It may seem like liberals are more concerned with tearing down private enterprise which is the easier target, but in fact we all should have an equal chance to make a living without some having advantages over others to get ahead.