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Hope, Human and Wild
Post Carbon Fellow David Hughe's debate with Terry Engelder on shale gas was reported in this piece in Tulsa World.
From the article:
The back and forth discussion between Hughes and Engelder was less an argument than a numbers contrast in their views about shale gas leading the U.S. toward energy independence. Hughes said the oil and gas industry has over-hyped the potential for shale gas reserves, while Engelder contended that federal statistics underplay the assets.
"It's clear that natural gas is going to be a very important part of the future," said Hughes, who is president of consulting firm Global Sustainability Research Inc.
"I just think the hype is overblown" on shale gas offering a 100-year proved reserve, he added. "I don't think we can grow production as much as we think we can."
The Barnett Shale of North Texas, a pioneer formation in fracturing and shale gas production, has receded to significant production in only a few counties, Hughes said. He also predicted that the current price of spot natural gas, about $2.50 per thousand cubic feet, will depress production levels and eventually lead to higher prices.
Image credit:Geoscientists Terry Engelder (left) and David Hughes discuss pros and cons of hydraulic fracturing on Tuesday. STEPHEN PINGRY / Tulsa World
See David Hughes report Will Natural Gas Fuel America in the 21st Century?
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