Gallery: US Department of Energy Decreases Estimate of East Coast Natur...

 

The US Department of Energy took a chunk out of the natural gas industry’s high hopes for the future yesterday by slashing the amount of gas estimated to be held in the Marcellus Shale — a huge swath of shale rock under the east coast of the United States thought by gas mongers to be the holy grail of energy. The Annual Energy Outlook states with a 90% certainty that the amount of gas locked under the east coast is actually 66% less than they previously imagined. They knocked the Marcellus shale estimate from 482 trillion cubic feet in last year’s outlook to 141 trillion cubic feet, and the entire United States reserves didn’t fare much better – they were slashed almost in half from 827 trillion cubic feet in last year’s outlook to 482 trillion this year. Here’s to hoping that gash in the future of natural gas will calm the frenzy of energy companies itching to use hydraulic fracturing (fracking) to obtain the stuff.

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