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I believe longoil has a valid point about natural gas reserves.
Oct 15 12:19 pm
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All Comments by blu »The End of the Oil Age? Not Quite [View article]
With all the hype of how much natural gas we supposedly have, the facts about depletion in these newer tight reservoirs has been somewhat overlooked.
I don't touch any company that plays the shales, as I don't believe the reserves or sustained production capabilities of these wells. Only time will prove who is right about this. The Barnett in Texas has shown me plenty of evidence to be wary. The wells will be economical again someday... when NG prices spike back up..and that is inevitable. I'm in favor of the Pickens Plan, but how long it is sustainable is my big question.