GIANT natural gas find!

[Buck]

From the story........
"NEW YORK (CNNMoney.com) -- Americans are used to hearing that their energy supplies are dwindling.

But new discoveries of huge new natural gas fields in the United States and Canada could change that, cutting foreign imports and boosting production of a relatively clean energy source as global warming concerns take center stage.

Natural gas is used to generate about 20% of the nation's electricity and heat half its homes. Many people also use it for cooking, and it's seeing a small but growing use in vehicles.

Prices and production were fairly low during the 1980s and 90s, but growing demand for energy globally, and an increased interest in cleaner fuels, has sent natural gas prices sharply higher.

Over the last few months, big gas discoveries have been announced in the Northeast, Louisiana, and British Columbia. Together, they could boost natural gas reserves in the United States and Canada by up to 10%."

The rest of story & map of find.........
http://money.cnn.com/2008/04/17/news/economy/natural_gas/index.htm

[msta999]

Good story, Buck, thanks. The less we have to buy from overseas the better.

[drillkjh]

thats great. but too bad the bleeding hearts wont let us drill for it!! >:( >:(

[flatwater]

There is some truth to that and it has to do with the envirement but with the technowledgy they have today it would not make a whole lot of difference. The bleeding hearts are the same ones that squawk about high prices directly linked to high gas prices. The next thing they want to do is cry to the government to step in and take control. Then we have more regulations.
flatwater

[MadTripper]

They are drilling for it. We have several wells within five miles of our house. Next summer there will be almost 12 in our immediate area. Supposedly very high pressure. Two years ago, they were buying leases for 25 per acre for 5 years. They are now offering approximately 2000 per acre. It is all the buzz in our neck of the woods.

Tripper

[Av8rTx]

I live on the edge of the Barnett Shale natural gas field. Texas is using it's eminent domain laws to trample landowner right to allow drilling. Texas gets the bulk of it's electricity from Natural Gas and our rates run about $.13 KW hour compared to around $.08 in neighboring states. Natural gas prices have gone WAY up in the last 2 years driving the exploration and drilling.