A comprehensive new study indicates that the shale gas boom will continue for decades and plateau in 2040. The study, conducted by the University of Texas, looked at 15,000 wells drilled in the Barnett Shale formation. The Wall Street Journal reports:
Looking at data from actual wells rather than relying on estimates and extrapolations, the study broadly confirms conclusions by the energy industry and the U.S. government, which in December forecast rising gas production.
“We are looking at multi, multi decades of growth,” said Scott Tinker, director of the Bureau of Economic Geology at the university and a leader of the study.
The hands-on analysis in Texas was supplemented with research currently being conducted on shale formations in Louisiana, Pennsylvania, and Arkansas. Those reports will be released sometime next year, but preliminary indications confirm our enthusiasm for America’s bright energy future.
[Shale gas road sign image courtesy of Shutterstock]