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Mon Oct 22, 2012, 08:44 AM

After the Boom in Natural Gas

THE crew of workers fought off the blistering Louisiana sun, jerking their wrenches to tighten the fat hoses that would connect their cement trucks to the Chesapeake Energy drill rig — one of the last two rigs the company is still using to drill for natural gas here in the Haynesville Shale.

At its peak, Chesapeake ran 38 rigs in the region. All told, it has sunk more than 1,200 wells into the Haynesville, a gas-rich vein of dense rock that straddles Louisiana and Texas. Fed by a gold-rush mentality and easy money from Wall Street, Chesapeake and its competitors have done the same in other shale fields from Oklahoma to Pennsylvania.

For most of the country, the result has been cheaper energy. The nation is awash in so much natural gas that electric utilities, which burn the fuel in many generating plants, have curbed rate increases and switched more capacity to gas from coal, a dirtier fossil fuel.
http://www.nytimes.com/2012/10/21/business/energy-environment/in-a-natural-gas-glut-big-winners-and-losers.html?pagewanted=1&_r=2&nl=todaysheadlines&emc=edit_th_20121021&adxnnlx=1350907553-zI24ymtb3K8ZbFLSsTBM0g

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Reply After the Boom in Natural Gas (Original post)
white cloud Oct 2012 OP
Historic NY Oct 2012 #1
Champion Jack Oct 2012 #2
TxVietVet Oct 2012 #3
white cloud Oct 2012 #4

Response to white cloud (Original post)

Mon Oct 22, 2012, 09:19 AM

1. Can't tell that to the frackers....

here in Ny they want fracking all over hoping to ride the money trail. Maybe this will temper their thirst.

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Response to white cloud (Original post)

Mon Oct 22, 2012, 09:56 AM

2. Would love to see this ponzi bubble crash

Last edited Mon Oct 22, 2012, 10:33 AM - Edit history (1)

"Although the bankers made a lot of money from the deal making and a handful of energy companies made fortunes by exiting at the market’s peak, most of the industry has been bloodied — forced to sell assets, take huge write-offs and shift as many drill rigs as possible from gas exploration to oil, whose price has held up much better."

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Response to white cloud (Original post)

Mon Oct 22, 2012, 12:59 PM

3. I had read a headline of an article where they are seeking help to export natural gas.

Can't keep a glut here. I'm sure that Congress will give the energy companies welfare payments.

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Response to TxVietVet (Reply #3)

Mon Oct 22, 2012, 01:37 PM

4. The biggest push ever coming out of Wall Street

is for immediate export terminal being modified or built to export LNG, Tar sand oil (bitumen) and also coal.

http://fuelfix.com/blog/2012/10/22/gulf-coast-joins-export-coal-rush/?utm_source=WhatCountsEmail&utm_medium=FuelFix&utm_campaign=FuelFixNewsLetter

Houma to Houston import pipeline just started flowing backward and is export oil as of last month.

Big banks, Big oil, and now China and Canada are the players.

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