What's Beneath the Marcellus Shale Reserve?

[Shadowrider]

Oh and by the way Hobbes, you can take that article and apply the same concept all over the country. Then you can do the same thing for oil. In the next 5 years you will see old dried up oil fields all over the country boom again. Horizontal drilling can now go to the source of those dried up pools and those dried up pools only contained around 10% of what's really available. IOW there is still about 90% of it still down there. We can fly the finger to OPEC and start selling oil ourselves in about 10 years if the .gov gets the hell out of the way.

 

[ConstitutionCowboy]

Except that, if NG prices collapse then oil and NG exploration companies will stop looking for more and will also shut down some of their existing wells until prices are restored to the point that they become profitable.

That's called "Free Market Forces". Demand goes up, then price goes up. Supply goes up spurred by the higher profits until the demand levels off and then prices fall. It'll wobble up and down seeking and settling on its own balance. There'll still be fluctuations, naturally, but without government interference, price and supply will always stay at or near a happy median range.

Woody

 

[Hobbes]

Oh and by the way Hobbes, you can take that article and apply the same concept all over the country. Then you can do the same thing for oil. In the next 5 years you will see old dried up oil fields all over the country boom again. Horizontal drilling can now go to the source of those dried up pools and those dried up pools only contained around 10% of what's really available. IOW there is still about 90% of it still down there. We can fly the finger to OPEC and start selling oil ourselves in about 10 years if the .gov gets the hell out of the way.

I'm glad you chimed in. Is this true?

In 1975, the Department of Energy began funding research into fracking and horizontal drilling, where wells go down and then sideways for thousands of feet. But it took more than 20 years to perfect the process.
...
Congress passed a huge tax break in 1980 specifically to encourage unconventional natural gas drilling, noted Alex Trembath, a researcher at the Breakthrough Institute, a California nonprofit that supports new ways of thinking about energy and the environment.
Trembath said that the Department of Energy invested about $137 million in gas research over three decades, and that the federal tax credit for drillers amounted to $10 billion between 1980 and 2002.

The work wasn't all industry or all government, but both.

http://www.google.com/hostednews/ap...qjsvFw?docId=b9be5847ffce4c6e906f9074219fffc9

That's the DoE that we're going to get rid of by the way.

 

[gl55]

I'm glad you chimed in. Is this true?

In 1975, the Department of Energy began funding research into fracking and horizontal drilling, where wells go down and then sideways for thousands of feet. But it took more than 20 years to perfect the process.
...
Congress passed a huge tax break in 1980 specifically to encourage unconventional natural gas drilling, noted Alex Trembath, a researcher at the Breakthrough Institute, a California nonprofit that supports new ways of thinking about energy and the environment.
Trembath said that the Department of Energy invested about $137 million in gas research over three decades, and that the federal tax credit for drillers amounted to $10 billion between 1980 and 2002.

The work wasn't all industry or all government, but both.

http://www.google.com/hostednews/ap...qjsvFw?docId=b9be5847ffce4c6e906f9074219fffc9

That's the DoE that we're going to get rid of by the way.

Tax breaks for energy developers? Sounds a lot like those evil subsidies someone else keeps bringing up.

 

[Hobbes]

Tax breaks for energy developers? Sounds a lot like those evil subsidies someone else keeps bringing up.

It also sounds like those tax breaks for windmills that someone else keeps bringing up.

 

[gl55]

Let's not leave out the Solyndra solar panels.

 

[Hobbes]

Let's not leave out the Solyndra solar panels.

I'm giving up on you guys.

My extensive rorschach surveys indicate that you are obsessed with Obama and can't even discuss an exciting new NG find without dragging Obama into yet another thread.

Seek help.

 

[DPI]

I'm giving up on you guys.

My extensive rorschach surveys indicate that you are obsessed with Obama and can't even discuss an exciting new NG find without dragging Obama into yet another thread.

Seek help.

I can tell you one thing, the company I work for is spending $20,000,000,000 ($20 with a B) developing the Marcelus / Utica Shale area! Building the assets do not to receive tax incentives, but operating the assets do. Once the assets are operating they are place in an MLP. The MLP receive the tax incentives.

 

[gl55]

I'm giving up on you guys.

My extensive rorschach surveys indicate that you are obsessed with Obama and can't even discuss an exciting new NG find without dragging Obama into yet another thread.

Seek help.

Your discussion on a new NG find brought up the benefit of tax incentives for energy developers to develop new energy sources. In the last debate the current POTUS made a point to bring up how subsidies for energy developers need to be eliminated. Seems more like I was pointing out a policy difference our current POTUS has with what you posted than any obsession with Obama.

 

[Hobbes]

Your discussion on a new NG find brought up the benefit of tax incentives for energy developers to develop new energy sources. In the last debate the current POTUS made a point to bring up how subsidies for energy developers need to be eliminated. Seems more like I was pointing out a policy difference our current POTUS has with what you posted than any obsession with Obama.

The OP didn't bring up that up at all. Been did. And then Shadow posted that the government is in the way which prompted a question, to him, and that's when you started in with the Obama bashing.

Seek help.