Holy toledo! We have a gas glut!!

[tinydancer]

Ah, let's see now. I thought I'd heard several rumours over the years *cough* that we were running out of fossil fuels. Well according to the experts.....

Did anyone else hear those rumours? Cause guess what?

Gas glut threatens investment in renewables sector, IEA warns• Liquefied gas capacity will shoot up 47% by the end of 2013
• Shell and Exxon-Mobil are repositioning as gas producers


from the article:

The world faces a long term gas glut because of recent technical advances which have made possible the exploitation of previously untapped shale gas, coal bed methane and tight gas deposits, mostly in the US, China and Australia.

The IEA, publishing its annual world energy outlook now estimates that 35% of the increase in global gas production to 2035 will come from such unconventional projects.

Last year it estimated that unconventional gas production would account for 20% of the growth, although this covered the period 2007 – 2030. Gas is also the only fossil fuel for which it expects demand to grow by 2035.

I love days like this. It's not the end of the world after all.

Gas glut threatens investment in renewables sector, IEA warns | Business | The Guardian

 

[mdn2000]

Ah, let's see now. I thought I'd heard several rumours over the years *cough* that we were running out of fossil fuels. Well according to the experts.....

Did anyone else hear those rumours? Cause guess what?

Gas glut threatens investment in renewables sector, IEA warns• Liquefied gas capacity will shoot up 47% by the end of 2013
• Shell and Exxon-Mobil are repositioning as gas producers


from the article:

The world faces a long term gas glut because of recent technical advances which have made possible the exploitation of previously untapped shale gas, coal bed methane and tight gas deposits, mostly in the US, China and Australia.

The IEA, publishing its annual world energy outlook now estimates that 35% of the increase in global gas production to 2035 will come from such unconventional projects.

Last year it estimated that unconventional gas production would account for 20% of the growth, although this covered the period 2007 – 2030. Gas is also the only fossil fuel for which it expects demand to grow by 2035.

I love days like this. It's not the end of the world after all.

Gas glut threatens investment in renewables sector, IEA warns | Business | The Guardian

The IEA, the unconventional projects that will increase demand for gas production are Solar Panel and Wind Mill production

 

[Big Fitz]

mmmmmm chicken little and biscuits. That's gooooooood eatin.

 

[uscitizen]

I am sure that the major energy players are currently positioning themselves to control the glut to keep the prices up.

 

[mdn2000]

I am sure that the major energy players are currently positioning themselves to control the glut to keep the prices up.

That is what anyone and everyone does that runs a business, without profit there is no gas, things arent free.

The only reason gas prices are high are the fools who buy it, in Californian gas is 13 cent more expensive at Chevron compared to independent gas station, still people buy the more expensive gas. If everyone shopped the lowest price, prices will fall, people are dumb though.

 

[uscitizen]

Umm I believe this is about natural gas.

and yes they must make a profit, but monopolizing the product?
We need competition.

 

[mdn2000]

Umm I believe this is about natural gas.

and yes they must make a profit, but monopolizing the product?
We need competition.

About 2 bucks a gallon or is that pound, I forget.

Natural gas, no wonder there are no posts. I did my best.

 

[uscitizen]

I made a big pot of chili the other day, plenty of natural gas around here.

Natural gas is sold by the MCF, that is per 1,000 cubic ft as I recall, but not sure of the pressure it is sold at. 6 psi? I forget.

 

[mdn2000]

I made a big pot of chili the other day, plenty of natural gas around here.

Natural gas is sold by the MCF, that is per 1,000 cubic ft as I recall, but not sure of the pressure it is sold at. 6 psi? I forget.

I am way off track, I was thinking propane I refill at the gas station.

How about that natural gas, it should get pumped into each house, we could use the natural gas to cool us down from all this global warming.

 

[uscitizen]

They are also making LNG Liquified Natural Gas. Similar to propane. Make it feasable to transport NG in liquid form from the ME and places and not have to use a pipeline.

 

[Old Rocks]

I am sure that the major energy players are currently positioning themselves to control the glut to keep the prices up.

That is what anyone and everyone does that runs a business, without profit there is no gas, things arent free.

The only reason gas prices are high are the fools who buy it, in Californian gas is 13 cent more expensive at Chevron compared to independent gas station, still people buy the more expensive gas. If everyone shopped the lowest price, prices will fall, people are dumb though.

That you are

 

[Old Rocks]

You get more energy per ton of CO2 produced with natural gas, but you are still producing over two tons of CO2 per ton of natural gas burned.

 

[Middleman]

I started shopping only Conoco gasoline. They are ethanol free, which is better for your car. I notice on my mpg gauge that I'm getting better mileage as well. Conoco is less than Shell and Standard I notice, but about 5 cents more than Arco.

 

[Mr. H.]

I started shopping only Conoco gasoline. They are ethanol free, which is better for your car. I notice on my mpg gauge that I'm getting better mileage as well. Conoco is less than Shell and Standard I notice, but about 5 cents more than Arco.

That reminds me when, years ago, I filled up at a newly opened Mobil station. The pumps had no ethanol stickers on them, and I even went inside to ask the cashier if there was ethanol in the gasoline. She said no. But later I called their distributor's office to confirm and was told the pumps were so new they hadn't yet applied the stickers re: ethanol.

I asked to talk to the manager. He finally said "well what would you like me to do?". I told him I had $25 worth of product in my tank that otherwise I would not have purchased.

He sent me a check for $25 LOL.

 

[Annie]

I am sure that the major energy players are currently positioning themselves to control the glut to keep the prices up.

Gas spiked here from 2.91 to 3.09 in the past 12 days.

 

[Care4all]

hasn't the natural gas sitting above the oild reserves been pumped out and held in caverns for decades now?

there is plenty of natural gas....our own country has a ton of it....too bad we don't have access to it, where i live....it would at least be competition to the heating oil companies that have us on a rope.

yes, some other form of non fossil fuel heating is needed as well....

 

[Care4all]

I am sure that the major energy players are currently positioning themselves to control the glut to keep the prices up.

Gas spiked here from 2.91 to 3.09 in the past 12 days.

same here! what's going on? why's this happening?

 

[Annie]

I am sure that the major energy players are currently positioning themselves to control the glut to keep the prices up.

Gas spiked here from 2.91 to 3.09 in the past 12 days.

same here! what's going on? why's this happening?

Really spiked after the fed announced monetization of debt. I don't know if that's the culprit, but food prices are doing the same.

Well there might be a connection, my writing the previous sentence sent me googling:

Voros: Uncle Sam wants you to pay more for food and gas - San Jose Mercury News

Voros: Uncle Sam wants you to pay more for food and gas
Drew Voros, Oakland Tribune Business Editor
Posted: 11/09/2010 1044 AM PST
Updated: 11/09/2010 04:59:24 PM PST

You won't hear politicians promising to fix the economy by making you pay more for food, clothing and gasoline. That campaign wouldn't fly very far, even if it were the correct solution.

But that's exactly what Federal Reserve Chairman Ben Bernanke has set out to do when the Fed announced last week it would employ a $600 billion "quantitative easing" plan.

Don't let that mind-numbing economic term lull you into complacency. There's plenty of pain in store for consumers.

The plan is to have America's central bank buy $75 billion worth of U.S. Treasury bonds every month, which Bernanke says will lower interest rates to help spur corporate and consumer spending. In turn, financial markets react positively to the billions of "easier" dollars being made out of thin air, which also doesn't increase the government's debt.

What Bernanke glosses over is that the real reason behind this move is to devalue the dollar, a controversial move during any economic time.

That creates higher prices for the things you buy the most, which the Fed believes is the formula to ensure steady economic recovery.

In theory, Bernanke envisions tame inflation that forces increased consumer spending.

In practice, with investors fearing a currency war and buying dollar-dominated commodities, the stage is set for inflation that will put a new chill on consumer spending.

The Federal Reserve doesn't have too many tricks left up its sleeve...

I know the G 20 doesn't like it...

 

[Care4all]

truthfully...i'd rather see interest rates higher than devaluing the dollar.....but this is from OUR position in life....own everything we need including the home...

i'm just sick and tired of earning 1% or so on the retirement savings we have in cd's.....

so much for 'savings' being good.....bottom of the barrel.

 

[Big Black Dog]

So, why then is gas over $3.00 a gallon in my area now????????