"Many articles about the three proposed natural-gas pipelines to cross the mountains of Virginia have been published in The Roanoke Times. Most have not mentioned that the Marcellus shale play is near a peak in extraction of gas and extraction will decline steadily thereafter. It is important to have reliable estimates of the amount of Marcellus natural gas that will be available in the future to be transported through the three huge pipelines being proposed, to see if it is sufficient to justify the expense of and environmental damage done by constructing the pipelines."
"Debt funded the fracking boom. Now oil and gas prices have collapsed, and so has the ability to service that debt. The oil bust of the 1980s took down 700 banks, including 9 of the 10 largest in Texas. But this time, it’s different. This time, bondholders are on the hook. And these bonds – they’re called “junk bonds” for a reason – are already cracking. Busts start with small companies and proceed to larger ones. “Bankruptcy” and “restructuring” are the terms that wipe out stockholders and leave bondholders and other creditors to tussle over the scraps."
"The Marcellus shale gas play of Pennsylvania and West Virginia came onto the scene in 2007 in a big way and has grown to become the nation’s largest. It has accounted for much of the growth of U.S. shale gas production, and made up for declines in former shale gas giants like the Haynesville and Barnett plays of Louisiana and eastern Texas."
"An energy expert is in town to talk myths that mess with our understanding of the natural gas industry. "The myth of evergrowing cheap gas from shale is the big one," said David Hughes, a geoscientist and president of Global Sustainability Research Inc. Hughes is speaking at the annual lecture for UNBC's Natural Resources & Environmental Studies on Thursday night. "The myth is that production will go up in a linear manner and keep going up." Not so, according to his research into the major shale and unconventional gas sites in the U.S. After the first three years, the well production typically declines by about 70 per cent and similar numbers should be expected in Canada."
"The media are full of reports – quoting the recently published World Energy Outlook of the International Energy Agency (IEA) – about an energy revolution in the US, which is going to change global oil and gas markets. In this article, we look at shale oil only."
"The Settled Science of geology incorporates the quaint notion that the Earth’s petroleum deposits were formed via the “anaerobic decomposition of buried dead organisms”. Western mainstream petroleum geologists accordingly classify petroleum as a “fossil fuel” [aka decomposed dinosaur detritus] because these “dead organisms” are “typically” believed to have been “buried” millions of years ago."
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