Doomsaying

Interesting article on world natural gas reserves and the decline in American production. The UK and Canada have similar reserves to that of the US, and it's estimated we all have only about 10 years left. Then there's this bit:

Foreign Policy: The Coming Natural Gas Cartel: "Iran helped form the Gas Exporting Countries’ Forum (GECF)—a group of 15 gas-producing countries that met for the first time in Tehran in May 2001. Collectively, the GECF controls 73 percent of the world’s natural gas reserves and 41 percent of production. Somehow, the GECF has escaped the world’s attention. As the gas market grows increasingly global, that kind of indifference will become a luxury of the past."

Now I am of course the skeptic, since I doubt that a) there will be quite the substitution rate the author expects or b) technologies for exploration and extraction have peaked. Then there's green/biofuel substitutes that hopefully will come more online...

Interesting read, nice stats, perhaps a bit too much gloomy prognastication but informative nonetheless.

Tags: energy, natural gas