UnThreaded | Threaded | Whole Thread (2) | Ignore Thread Prev | Next
Author: tjscott0 Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 748786  
Subject: Hidden History of Shale Gas Revolution Date: 9/23/2012 7:16 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
http://thebreakthrough.org/archive/history_of_the_shale_gas_...

Presidents Ford and Carter both prioritized gas exploration in the face of the 1970s energy crises. While there was a general awareness that large shale fields like the Devonian field in New England and the Texas Barnett Shale had ample reserves of natural gas, nobody -- not government agencies and not private industry -- had either the needed imaging tools nor cheap ways to extract it.

From the mid-1970s through the end of the century, the DOE and parallel agencies at the state and federal level invested heavily in natural gas recovery technologies including horizontal drilling, downhole motors, and microseismic 3-dimensional mapping.

In 1986, a DOE/private venture first demonstrated a multi-stage directional fracture in the Devonian Shale. Large-scale hydraulic fracture recovery, however, would not come until the substantial R&D executed by Mitchell Energy, a Texas gas company headed by wildcatter George Mitchell. Here, again, the federal government would step in to aid the private sector.


http://thebreakthrough.org/archive/new_investigation_finds_d...
The technological revolution allowing for the cheap extraction of natural gas from shale occurred thanks to more than three decades of government subsidies for research, demonstration, and production, a new Breakthrough Institute investigation finds.

Both directly and indirectly, the government was behind the critical moments and tools in the shale gas revolution - massive hydraulic fracking (MHF), 3-D mapping, horizontal drilling, and horizontal wells.

"I'm conservative as hell," Dan Steward, the former Mitchell Energy geologist whose company pioneered shale gas in Texas, told us. But when asked about the role of government, Steward told us, "They did a hell of a lot of work, and I can't give them enough credit for that. [The Department of Energy] started it, and other people took the ball and ran with it. You cannot diminish DOE's involvement."


Hmm. I suppose subsidies/tax breaks could be justified in the name of national security as we need more US energy sources to lessen our dependence on foreign sources. But once one goes down that road; how does one stop at shale oil? Why not solar or wind too?
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (2) | Ignore Thread Prev | Next

Announcements

Pencils of Promise - Back to School Drive
"Pencils of Promise works with communities across the globe to build schools and create programs that provide education opportunities for children."
Post of the Day:
Macro Economics

The Deflationary Cycle Explained
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement