The new recoverable reserves number is the highest in the 48 years the Potential Gas Committee, a nonprofit organization of sector experts hosted by the Colorado School of Mines, has been issuing its evaluations. The last record number was issued in 2010 as the full scale of the impact of hydraulic fracturing technology was just making itself felt across the entire economy, and the Committee's perceived uncertainty about how accessible reserves would actually be following the issuance of that record number caused consternation that industry had been overselling the potential of the fuel.Read the whole article right here.
Reserves and supply of any geologically trapped fuel are bound to be uncertain, based on a variety of factors from new mapping to permitting practices and economics. The Committee's simplest number, its headline Future Gas Supply estimate, rose 22.1% from 2010 to hit 2.688 trillion cubic feet of natural gas in the new report, up from 2.202 trillion cubic feet of forecast supply in 2010.
Connect with us on Facebook and Twitter!