November 13, 2011 |
The shale-gas bonanza is fueling a hot competition among businesses that want to claim a share of what is promoted as an abundant long-term energy source. T. Boone Pickens is pitching compressed natural gas as a cheap motor-fuel alternative to imported oil. Electricity suppliers want gas to fire up new power plants. Entrepreneurs are exploring ways to convert natural gas into gasoline. And the chemical industry, which buys natural gas as a raw material for plastics, says fuel from resources like Pennsylvania's Marcellus Shale could inspire a resurgence of U.S. manufacturing.
September 26, 2011 |
Daniel Yergin, one of the most influential voices in the world of energy, says shale gas is here to stay. "Shale gas has come on really fast," Yergin, an author and energy analyst, said in an interview Monday. "But people don't realize it's 30 percent of our gas production. It's not a question of whether to do it or not. It's happened. " Yergin, who is a member of a presidential shale-gas advisory commission, said it's important to develop resources like Pennsylvania's Marcellus Shale "responsibly," adhering to best environmental practices while responding to local community concerns.
January 23, 2012
Natural gas futures soared by 7.8 percent Monday after Chesapeake Energy Corp. announced it would dramatically reduce drilling in Pennsylvania's Marcellus Shale and in other gas-producing areas. The announcement came after natural gas prices have plummeted in the last month because of an oversupply, caused by warm weather and enormous shale-gas production. The share prices of natural gas producers also soared Monday on the prospect of greater profits from higher prices. Despite the increase, natural gas prices are still off 18 percent so far this year.
June 15, 2013 |
Foreign business leaders are increasingly looking to Pennsylvania as a potential location for investment because of the availability of abundant Marcellus Shale natural gas, Gov. Corbett told an industry-supported energy summit Friday. Corbett said Pennsylvania's shale-gas boom was a frequent subject of interest on his trade missions this year to South America and last year to Germany. "In each place, business leaders wanted to know more about our shale industry," Corbett told about 170 people attending the daylong summit sponsored by the Keystone Energy Forum.
September 24, 2012
"It is beyond belief that there are still people who would trade this progress for a return to the status quo. " - Gov. Corbett, referring to opponents of drilling for shale gas, in remarks at the Marcellus Shale Coalition convention in Center City. "I think it is disingenuous for the governor to dismiss his opponents as a fringe element of naysayers. " - David Masur of PennEnvironment, protesting outside the shale-gas convention. "We are really, really sad. I hope they call us back because these are really, really good jobs.
November 11, 2011 |
Energy companies and the government have not made enough progress in reducing the environmental risks of shale-gas production, a U.S. Energy Department panel has said. Hydraulic fracturing, or fracking, that extracts natural gas from shale-rock formations by injecting water, sand, and chemicals represents about a third of U.S. natural-gas output, according to the advisory panel led by former CIA Director John Deutch. "If action is not taken to reduce the environmental impact accompanying the very considerable expansion of shale-gas production expected across the country - perhaps as many as 100,000 wells over the next several decades - there is a real risk of serious environmental consequences," the panel said in a statement released Thursday.
August 2, 2012 |
After four years of rapid growth, Marcellus Shale gas drilling has slowed. As The Inquirer reported last month, the number of drilling rigs in Pennsylvania has fallen 29 percent from a year ago. State data show the number of Marcellus wells drilled in July was 57 percent lower than in the same period last year. Gas production in the Marcellus and other shale basins got ahead of demand, depressing prices to unprofitable levels. "We are all losing our shirts today," Rex Tillerson, the CEO of Exxon Mobil, said recently.
September 20, 2012 |
The Marcellus Shale natural-gas industry has not exactly enjoyed a warm civic embrace in Philadelphia, where City Council last year famously called for a moratorium on drilling because of environmental worries. But the Marcellus Shale Coalition, the industry trade association, will occupy the Convention Center over the next three days to demonstrate that Pennsylvania's shale-gas boom is having economic benefits beyond the rural areas where drilling is taking place. The coalition's Shale Gas Insight conference, which will attract Gov. Corbett as well as hundreds of protesters, will tout the effect natural gas has had on lowering utility rates, generating jobs, and improving air quality by displacing coal in power generation.
July 3, 2011 |
At some point this year - it may have already happened - production of Marcellus Shale natural gas will exceed Pennsylvania's demand for the fuel. The state will become a net exporter of natural gas. If current trends continue, annual Marcellus output could quintuple by 2020, making Pennsylvania the second-largest producer behind Texas, according to Timothy J. Considine, a University of Wyoming energy economist, who has cowritten several bullish studies on shale gas. Where will the gas go?
October 30, 2011 |
The shale-gas revolution has not served John W. Rowe's best economic interests. Nevertheless, the chief executive of Exelon Corp. has become an evangelist. Rowe, whose Chicago company owns Peco Energy Co., said in an interview Friday that before shale gas came along, Exelon made so much money generating power in high-priced electricity markets that one of his company's main concerns was "how to keep people from taking [the profits] away from us. " Fast forward three years.