Fairy tales of US energy independence from natgas.

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    TaffyJ
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    We’ve been hearing stories about how all this wonderful shale fuel and fraking are going to save America and bring us to energy independence to the pooint that we’ll actually be EXPORTING natural gas. It’s funny how huge LNG facilities are being approved and built, controversial pipelines are pushed through, and the news is all unicorns and rainbows about us now having ‘enough natural gas to last hundreds of years.’

    But there’s a problem with that pipe dream.

    http://www.zerohedge.com/news/2013-10-07/guest-post-about-shale-oil-gas-miracle

    The wells are petering out in the second year. It seems that they spend a whole bunch of money exploring and paying leases, drilling and building wells, and then they only get a year or two of use out of them. That’s a lot of capital wasted with not enough return, and companies are not finding it profitable. If companies aren’t making a profit, then it won’t happen. Unless it gets subsidized, and then the loss is shifted to the tax payer.

    Certainly not cotton candy, roses, and energy independence. The wells they’ve tried in China are performing the same way, too. We are speeding toward that brick wall and ideas of a technological save are failing.

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