U.S. Gas Fields Go From Bust to Boom
Original post made by Sharon, Midtown, on Apr 30, 2009
Even conservative estimates suggest the Louisiana discovery -- known as the Haynesville Shale, for the dense rock formation that contains the gas -- could hold some 200 trillion cubic feet of natural gas.
That's the equivalent of 33 billion barrels of oil, or 18 years' worth of current U.S. oil production.
Some industry executives think the field could be several times that size."Web Link
Nothing is mentioned in this article concerning the conversion of natural gas to a clean burning diesel which Shell is currently doing in with its' massive new cracking facility Qatar.
This is truly the 600lb gorilla in the natural gas industry if proved economically viable - no one really wants to use CNG as a transportation fuel if there is a more stable alternative.
This would make the cost of conversion to an 'alternative' fuel zero at the distribution and end user level and shift all of the conversion costs to the refining side.
This would also serve to make the US energy independent, re-couple the price of natural gas to oil, and make the world a cleaner place.