Tuesday, May 11, 2010

New shale gas technology dramatically expands US energy reserves

For those who haven't followed the development of the new energy technology called shale gas, this is a good introduction. Energy companies have long known that vast amounts of natural gas exist in shale formations throughout the United States, but the technology to extract it did not exist until recently. New drilling methods are now allowing the development of these reserves.

According to some estimates, this could more than double the amount of gas reserves we have, and allow a shift from oil and coal to gas for electricity generation and other applications, thereby reducing demand for foreign oil. Naturally, the Obama administration is working to suppress shale gas development by claiming - you guessed it - possible environmental damage.

If the energy industry can avoid the clutches of the EPA and Department of Energy, we have a vast new energy resource, compared to which all the "renewable" sources the government is lavishing tax dollars on, are expensive fantasies.

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