Pittsburgh
Story of the first commercial radio broadcast (Appalachian History)
Central Catholic High School building new science, math and technology building (Essential Pittsburgh)
Local holiday markets for black Friday and beyond (Essential Pittsburgh)
Cleveland
Round up of Cleveland reactions to Tamir Rice shooting (Belt Magazine)
Boy Shot (Belt Magazine)
Home is where the football-hungry heart is (Freshwater Cleveland)
Inside the bizarre Cleveland Bazaar and ten years of peddling indie Cleveland arts (Freshwater Cleveland)
Youngstown
"A champion of the people": Youngstown says goodbye to Jim Trafficant (Belt Magazine)
Other Urbanism and Architecture News
Respected science journal, Nature publishes sober report on long term shale prospects (Houston Chronicle)
"Don't change the arts district" Says guy who arrived last year (LA Curbed)
New downtown LA shuttle service is "like a free Uber" (LA Curbed)
Loup: The love child of Uber and a bus service (Re/Code)
Leaving Paris for her suburbs (Washington Post)
NYC ground-zero transit hub to cost over $4 billion- twice original estimate (Fox News)
New Jersey Transit sending train crews to "charm school" (NJ.com)
New elevator is like a vertical mass-transit system (TreeHugger)
The horror every day: Police brutality in Houston goes unpunished (Texas Observer)
Hundreds of killings by police not included in homicide statistics (Fox News)
Rise of walking for fun and fitness as a social trend (Huffington Post)
Other Arts and Archeology News
Christie's chief makes surprise exit (The Art Newspaper)
Who will pay for Miami's new and improved museums? (The Art Newspaper)
Historian spots lost avant-garde painting in background of kid's movie (Hyperallergic)
The revelry and luxury of Art Basel Miami Beach (New York Times)
How private collectors helped make Miami an Art Destination (West Virginia Public Radio)
5 famous stolen pieces of art (And where to see them) (Huffington Post)
Archeologists find Medieval City in UK (The Telegraph)
Long time New York Times, art writer resigns after several plagiarism incidents (ArtNet)
Showing posts with label Marcellus Shale. Show all posts
Showing posts with label Marcellus Shale. Show all posts
Thursday, December 04, 2014
Wednesday, February 01, 2012
Low Gas Prices Force Drillers to Shut Down Wells
Governments counting on the cash and jobs bonanza from shale drilling might soon be out of luck, as a long period of very low gas prices is causing drillers to shut down wells.
Chesapeake Energy, Conoco-Phillips, Noble Energy and Consol Energy have all announced plans to cut back spending and close off wells.
Low prices deflate natural-gas rush
People looking at the falling prices, were wondering how long the drilling boom could go on. Unlike, coal or oil, gas is almost impossible to ship without a pipeline, creating a very localised market.
Chesapeake Energy, Conoco-Phillips, Noble Energy and Consol Energy have all announced plans to cut back spending and close off wells.
Low prices deflate natural-gas rush
People looking at the falling prices, were wondering how long the drilling boom could go on. Unlike, coal or oil, gas is almost impossible to ship without a pipeline, creating a very localised market.
Thursday, October 22, 2009
The Natural Gas Boom We Can't Talk About
One of the more disturbing trends is the way we increasingly replace wishes and dreams for material facts and put more and more subjects behind a wall of political correctness. The result is that many resources are wasted and real opportunities lost.
Burgh Diaspora, had a good post pointing out the epic energy boom emerging in Natural Gas, centered in Western PA. An energy conference dealing with Western Pa, Marcellus Shale issues, expected to draw a few hundred already has more than 1,300 reservations and had to be moved to The Convention Center.
A Times article shows the wider opportunity. Not only are new gas reserves being opened up in the region, but because a lot of the first drilling was done here, people are traveling from all over the world to learn.
"Shale is a sedimentary rock rich in organic material that is found in many parts of the world. It was of little use as a source of gas until about a decade ago, when American companies developed new techniques to fracture the rock and drill horizontally.
Because so little drilling has been done in shale fields outside of the United States and Canada, gas analysts have made a wide array of estimates for how much shale gas could be tapped globally. Even the most conservative estimates are enormous, projecting at least a 20 percent increase in the world’s known reserves of natural gas.
One recent study by IHS Cambridge Energy Research Associates, a consulting group, calculated that the recoverable shale gas outside of North America could turn out to be equivalent to 211 years’ worth of natural gas consumption in the United States at the present level of demand, and maybe as much as 690 years. The low figure would represent a 50 percent increase in the world’s known gas reserves, and the high figure, a 160 percent increase."
To people following this, there's got to be a lesson about how markets and incentives work. Literally, two or theree years back it was looking like we were tapped out of known gas reserves in America. But a few years of higher prices got more and more people to try apply new technologies to formerly mature fields.
In fact, the term "reserve" is pretty deceptive since it's very much based on price. If oil drops to 10 dollars a barrel and stays there a few years, companies start considering fields that cost more than $10 per barrel to drill, non economical.
Anyway, it's still way too early to estimate what the opportunity or the potentialy negative effects of all this may be. All I'm saying is we should be open to talking about it. It's clear that companies and investors who should know about these things are placing big bets.
I'm reminded of the way new drugs that have been used by a small sample of people are almost always pitched as having fewer side effects. Very, very few energy technologies have no side effects and comparing real viable prospects with imaginary green fantasy products isn't likely to be helpful.
Burgh Diaspora, had a good post pointing out the epic energy boom emerging in Natural Gas, centered in Western PA. An energy conference dealing with Western Pa, Marcellus Shale issues, expected to draw a few hundred already has more than 1,300 reservations and had to be moved to The Convention Center.
A Times article shows the wider opportunity. Not only are new gas reserves being opened up in the region, but because a lot of the first drilling was done here, people are traveling from all over the world to learn.
"Shale is a sedimentary rock rich in organic material that is found in many parts of the world. It was of little use as a source of gas until about a decade ago, when American companies developed new techniques to fracture the rock and drill horizontally.
Because so little drilling has been done in shale fields outside of the United States and Canada, gas analysts have made a wide array of estimates for how much shale gas could be tapped globally. Even the most conservative estimates are enormous, projecting at least a 20 percent increase in the world’s known reserves of natural gas.
One recent study by IHS Cambridge Energy Research Associates, a consulting group, calculated that the recoverable shale gas outside of North America could turn out to be equivalent to 211 years’ worth of natural gas consumption in the United States at the present level of demand, and maybe as much as 690 years. The low figure would represent a 50 percent increase in the world’s known gas reserves, and the high figure, a 160 percent increase."
To people following this, there's got to be a lesson about how markets and incentives work. Literally, two or theree years back it was looking like we were tapped out of known gas reserves in America. But a few years of higher prices got more and more people to try apply new technologies to formerly mature fields.
In fact, the term "reserve" is pretty deceptive since it's very much based on price. If oil drops to 10 dollars a barrel and stays there a few years, companies start considering fields that cost more than $10 per barrel to drill, non economical.
Anyway, it's still way too early to estimate what the opportunity or the potentialy negative effects of all this may be. All I'm saying is we should be open to talking about it. It's clear that companies and investors who should know about these things are placing big bets.
I'm reminded of the way new drugs that have been used by a small sample of people are almost always pitched as having fewer side effects. Very, very few energy technologies have no side effects and comparing real viable prospects with imaginary green fantasy products isn't likely to be helpful.
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