Business 9/05/2014 @ 7:55AM 5,325 views
U.S. Economy Has Gotten Lift By Going Deep To Retrieve Natural Gas
The U.S. economy has gotten a lift by going deep, all to retrieve natural gas deposits that are fueling American industry and electric generation.
The ability to capture unconventional shale gas deposits that are locked inside of rock formations a mile beneath the earth’s surface is supplying both businesses and power generators with an inexpensive and reliable fuel source. That’s breathed new life into such energy-intensive facilities as well as given utilities an alternative to coal that has fallen out of regulatory favor.
“Who would have thought a decade ago that this would be a bright spot in the U.S. economy?” ask Deborah Hewitt, who is the assistant dean for MBA programs at William & Mary in Virginia, in a column for Breakbulk magazine. “After stagnating for decades at around 15-18 trillion cubic feet per year, natural gas withdrawals are now running around 30 trillion cubic feet a year, a 100 percent increase.”
Full article and map:
http://www.forbes.com/sites/kensilverstein/2014/09/05/u-s-economy-has-gotten-lift-by-going-deep-to-retrieve-natural-gas/?ss=energy