Elaine said:
With the spot natural gas shortages this past winter, historically high prices in New England, approval of Cove Point, MD facility for exporting Liquid Natural Gas to non-Fair Trade Agreement countries starting in 2017 (with the Cheneire port in the Gulf already under construction and 5 others approved), and the signing of 20-year contracts for providing guaranteed amounts of natural gas to Asia - why are we still using language that there is a GLUT of natural gas? The known reserves of Marcellus shale are only enough to sustain US use at the current rate for 7 years. And the US rate of use is increasing due to retiring coal plants and substituting more natural gas for electricity generation. So very predictably, by 2017, we will have natural gas shortages and high prices. So smooth sailing for natural gas pipelines? I hope not. It's time for US residents to get up to speed and catch on to the game that's being played in our backyard.