Conventional wisdom has North America entering a new era of energy abundance thanks to shale gas. But has industry been honest? Cold, Hungry and in the Dark argues that declining productivity combined with increasing demand will trigger a crisis that will cause prices to skyrocket, damage the economy, and have a profound impact on the lives of nearly every North American.
Relying on faulty science, bought-and-paid-for-white papers masquerading as independent research and "industry consultants," the "shale promoters" have vastly overstated the viable supply of shale gas resources for their own financial gain. This startling exposé, written by an industry insider, suggests that the stakes involved in the Enron scandal might seem like lunch money in comparison to the bursting of the natural gas bubble. Exhaustively researched and rigorously documented, Cold, Hungry and in the Dark:
- Puts supply-and-demand trends under a microscope
- Provides overwhelming evidence of the absurdity of the one hundred-year supply myth
- Suggests numerous ways to mitigate the upcoming natural gas price spike
The mainstream media has told us that natural gas will be cheap and plentiful for decades, when nothing could be further from the truth. Forewarned is forearmed. Cold, Hungry and in the Dark is vital reading for anyone concerned about the inevitable economic impact of our uncertain energy future.
Bill Powers is the editor of Powers Energy Investor and sits on the board of directors of Calgary-based Arsenal Energy. He has devoted the last fifteen years to studying and analyzing the energy sector.
|Publisher:||New Society Publishers|
|Product dimensions:||6.00(w) x 8.90(h) x 0.80(d)|
About the Author
Bill Powers iis the editor of Powers Energy Investor and previously the editor of the Canadian Energy Viewpoint and US Energy Investor. He has been publishing investment research on the oil and gas industry since 2002 and sits on the Board of Directors of Calgary-based Arsenal Energy. An active investor for over 25 years, Powers has devoted the last 15 years to studying and analyzing the energy sector, driven by his desire to uncover unrecognized trends in the industry and identify outstanding opportunities for retail and institutional investors.
Art Berman is a geological consultant with thirty-three years of experience in petroleum exploration and production. He is a Director of ASPO-USA (Association for the Study of Peak Oil & Gas USA) and sits on the editorial board and is a frequent contributor at The Oil Drum. Art has published over 100 articles on geology, technology, and the petroleum industry.
Table of Contents
Foreword Art Berman xiii
Part 1 1970s Gas Crisis Set For Replay 1
1 Early Regulation, Price Fixing and the 1970s Gas Crisis 3
2 1978 to 1984: The Failure of Policy Half-Measures 17
3 1984 to 2000: The Era of Deregulation 23
4 2001 to 2010: The Supply Scramble Begins 31
5 Enter the Shale Promoters 59
Part 2 US Natural Gas Demand-An Increasingly Inelastic Demand Curve 83
6 Electric Power Industry Becomes Hooked on Natural Gas 85
7 The Coming Increase in Industrial Demand for Natural Gas 91
8 Commercial and Residential Consumers Add to Demand Inelasticity 97
9 Natural Gas Vehicles: A Non-Starter 101
Part 3 Supply: We Will Not Produce Our Way Out of the Next Crisis 107
10 Texas: The Big Enchilada 109
11 Louisiana's Fleeting Production Rebound 119
12 The Gulf of Mexico's Terminal Decline 129
13 The Cowboy States Reversal of Fortune 137
14 New Mexico's Long Slide 145
15 Pennsylvania's Marcellus Renaissance 151
16 Arkansas: Limits of the Fayetteville Shale Abundantly Clear 161
17 Canada: Era of Cheap Exports to tie US Ending Soon 167
18 LNG Will Not Save Us in the Next Crisis 173
Part 4 What Should Be Done 183
19 The US Energy Information Agency's Mission Failure 185
20 Solutions to the Coming Deliverability Crisis 201
21 A Look at the Future 217
List of Figures and Tables 271
About the Author 313