Allen Fuller

Study: U.S. Has 118 Year Supply of Natural Gas

It most certainly won't last 118 years unless demand stays steady or falls, as TheRealBull points out. But running out in 10 years? That's a bit extreme on the short end.

You do have to factor in increasing use whenever you hear these estimates. If demand grows at 2% per year (which is a common assumption) then 118 years' worth at 2007 levels actually lasts for only 61 years.

If demand grows at 5% per year (which is likely, as people switch away from more expensive oil), then 118 years' worth at 2007 levels actually lasts for only 39 years.