[PeakKYJelly]

http://www.telegraph.co.uk/finance/comm ... world.html

"Tony Hayward, BP's chief executive, said proven natural gas reserves around the world have risen to 1.2 trillion barrels of oil equivalent, enough for 60 years' supply – and rising fast."

[mcgowanjm]

I live in the Fayetteville Shale and have seen the effects
on the local economy.

1) $this->bbcode_second_pass_quote('', 'c')ombined with a smarter grid and a switch to electric cars returns the country to near energy self-sufficiency.

[Ferretlover]

http://www.telegraph.co.uk/finance/comm ... world.html

$this->bbcode_second_pass_quote('', 'A')merica is not going to bleed its wealth importing fuel. Russia's grip on Europe's gas will weaken. Improvident Britain may avoid paralysing blackouts by mid-decade after all.

[mcgowanjm]

$this->bbcode_second_pass_quote('', 'O')nly a small portion of the population, the owners of capital, are now benefitting from growth, i.e, they are getting much richer at the expense of the ecosphere that supports human and all other types of life. Since the defenders of this system never use this as a reason to continue economic growth, we must look elsewhere for the "true" reason.

Here we must posit some far-reaching, perhaps divine plan which I will call geological evolution. Ever since the Earth buried much of its atmospheric carbon in the aptly named Carboniferous Era, there has been no efficient mechanism for reintroducing it back into the atmosphere, that is, until the industrial revolution. But even with the discoveries about the effect of human activities on the climate--primarily through the burning of carbon entombed in the form of oil, natural gas, and coal--we as a species seem determined to continue on our current trajectory. Our overpopulated, high-energy society has begun to deplete the ocean of fish, destroy the fertility of soils, and use up all the rich metal ores. And, yet we continue.

And, providing the justification for continuing down this path are cornucopians such as Julian Simon, Daniel Yergin, Peter Odell and now Roberto Aguilera (an admitted devotee of Julian Simon). They believe we have far more carbon-based fuels yet to burn and that we should definitely burn them. In fact, they largely see this development as not just preferable, but inevitable.

So herein must lie our ultimate purpose as a species during our brief appearance on planet Earth, to wit, to initiate an unstoppable warming of the planet through the reintroduction of naturally sequestered carbon into the atmosphere and thereby usher in a second carboniferous era. Tens or even hundreds of millions of years after that perhaps another species will discover the carbon that will once again have been sequestered and decide to start the cycle all over again. It is a fate that only the god who punished Sisyphus would find satisfying.

[mcgowanjm]

Same article twice posted.

But it's easy to give you my reply to the other: http://peakoil.com/post949099.html#p949099

The Punchline: Resilience v Growth. These guys will have to wither for
your New World to proceed:$this->bbcode_second_pass_quote('', 'L')ike feudal lord claiming the economic surplus for themselves while administering austerity for the population at large, the wealthiest 1% of the population has raised their appropriation of the nationwide returns to wealth – dividends, interest, rent and capital gains – from 37% of the total ten years ago to 57% five years ago and it seems nearly 70% today. This is the highest proportion since records have been kept. We are approaching Russian kleptocratic levels.

[FireJack]

Here is the gist of the article:

"Advances in technology for extracting gas from shale and methane beds have quickened dramatically"
"The breakthrough has been to combine 3-D seismic imaging with new technologies to free "tight gas" by smashing rocks, known as hydro-fracturing or "fracking" in the trade. "
"Texas A&M University said US methods could increase global gas reserves by nine times to 16,000 TCF (trillion cubic feet). Almost a quarter is in China but it may lack the water resources to harness the technology given the depletion of the North China water basin. "

China may lack the water resources huh. Sounds like the miracle that is the oil sands, only not affordable at any price people could afford (which I doubt even the oil sands are).

It is fun to watch you squirm mcgowan when presented with such tremendous news that counters your doooooom scenarios.
$this->bbcode_second_pass_quote('mcgowanjm', 'S')ame article twice posted. But it's easy to give you my reply to the other: http://peakoil.com/post949099.html#p949099
The Punchline: Resilience v Growth. These guys will have to wither for
your New World to proceed: $this->bbcode_second_pass_quote('', 'L')ike feudal lord claiming the economic surplus for themselves while administering austerity for the population at large, the wealthiest 1% of the population has raised their appropriation of the nationwide returns to wealth – dividends, interest, rent and capital gains – from 37% of the total ten years ago to 57% five years ago and it seems nearly 70% today. This is the highest proportion since records have been kept. We are approaching Russian kleptocratic levels.

[hardtootell-2]

$this->bbcode_second_pass_quote('FireJack', '&')quot;Texas A&M University said US methods could increase global gas reserves by nine times to 16,000 TCF (trillion cubic feet). Almost a quarter is in China but it may lack the water resources to harness the technology given the depletion of the North China water basin. "
China may lack the water resources huh. Sounds like the miracle that is the oil sands, only not affordable at any price people could afford (which I doubt even the oil sands are).

[PeakKYJelly]

Don't worry. All will be well.

[mcgowanjm]

$this->bbcode_second_pass_quote('', 'D')on't worry. All will be well.

[cipi604]

To switch some/most of the cars to work on natgas should be possible, but how fast can the gas industry grow to level the falling oil industry nobody knows. I think it ain't that easy as it sounds.

And wtf this has to do with peak oil . We don't talk about peak natgas, this site is called peakoil.com, and yeah it doesn't say nothing about the fact that Peak Oil is here! You f.ng live it.

[mcgowanjm]

$this->bbcode_second_pass_quote('TheAntiDoomer', 'I')t is fun to watch you squirm mcgowan when presented with such tremendous news that counters your doooooom scenarios.

[Serial_Worrier]

all you concern trolls should support nuclear power.

[NoWorries]

I'm still trying to figure out what this Natural Gas discovery has to do with Peak Oil.

Last time I checked, my car didn't take natural gas.

Am I missing something..?

[ian807]

Great if true, and if we can transition in time.

Big ifs.

[shortonsense]

$this->bbcode_second_pass_quote('NoWorries', 'I')'m still trying to figure out what this Natural Gas discovery has to do with Peak Oil.

Last time I checked, my car didn't take natural gas.

Am I missing something..?

[eastbay]

$this->bbcode_second_pass_quote('NoWorries', 'I')'m still trying to figure out what this Natural Gas discovery has to do with Peak Oil.

Last time I checked, my car didn't take natural gas.

Am I missing something..?

[mos6507]

There is something afoot with natural gas. It's not the appropriate response for peak oilers to knee-jerk dismiss it. I don't think enough scrutiny has been put onto it, unlike let's say biofuels, tar sands, and shale oil.

Out of all the peak oil mitigation strategies, I can't think of anything other than NG that could be plied into service in a very quick traige-like timeframe. Realistically speaking, we will fall back onto NG first, since even if we go balls to the wall on renewables, it will just take too long to ramp up.

Plus, of course, NG is the primary feedstock for the creation of nitrogen fertilizer. So big ag should be able to continue churning, as dysfunctional as it may be.

[Serial_Worrier]

$this->bbcode_second_pass_quote('mos6507', 'T')here is something afoot with natural gas. It's not the appropriate response for peak oilers to knee-jerk dismiss it. I don't think enough scrutiny has been put onto it, unlike let's say biofuels, tar sands, and shale oil.

Out of all the peak oil mitigation strategies, I can't think of anything other than NG that could be plied into service in a very quick traige-like timeframe. Realistically speaking, we will fall back onto NG first, since even if we go balls to the wall on renewables, it will just take too long to ramp up.

Plus, of course, NG is the primary feedstock for the creation of nitrogen fertilizer. So big ag should be able to continue churning, as dysfunctional as it may be.