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Top > World Energy Monthly Review > June 2009 > Avoid Air Pocket in Fuel Supply with Continued U.S. Natural Gas Exploration and Drilling |
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| Avoid Air Pocket in Fuel Supply with Continued U.S. Natural Gas Exploration and Drilling |
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by Michael J. Newport
“Information’s pretty thin stuff unless mixed with experience,” said Clarence
Day in The Crow’s Nest. While current information shows that we have higher
than usual U.S. stockpiles of natural gas, experience dictates that supply
will quickly be constrained when demand picks up again. Natural gas is an environmentally
responsible source of clean energy available in America today, which helps
us to severely reduce our dependence on foreign oil.
The price of natural gas has fallen more than 70 percent since its July 2008
peak. Prices have dipped lower in recent months as surplus storage levels continue
to increase, relative to last year and the five-year average. While the current
drop in gas prices has caused the nation to collectively push aside concerns
of energy self-sufficiency, energy security and geopolitical conflicts, our
wake-up call is coming very soon.
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