One thing is certain: the natural gas industry must be forthcoming and honest about the risks that unconventional oil and gas development create, proactive in taking the steps necessary to minimize those risks, and willing to collect and publicly disclose the data necessary to enable communities to evaluate for themselves whether their health and environment are being fully protected.
While Australia is the best part of 10-years behind the U.S. in terms of exploring for and developing its unconventional oil and gas potential it is a country which featured prominently in a 2011 analysis of world shale gas potential by the U.S. Energy Information Agency.
And most of that is due to shale gas and unconventional oil wealth in U.S. areas like the Bakken in North Dakota and Montana.
As a result of these infrastructure needs, and the tremendous opportunities associated with unconventional oil and gas, U.S. economic activity is rising.
The planet is endowed with plentiful sources of natural gas and oil, conventional and unconventional.
Because of the marriage of hydrofracking and horizontal drilling, the world is now awash in unconventional, but recoverable oil and gas.
FORBES: Mother Nature to Keystone Pipeline Protesters: Chill Out!
As oil and gas firms spend increasingly large parts of their budgets to explore and develop new sources of oil, gas and unconventional sources of hydrocarbons, upstream services firms like Halliburton are expected to reap the windfall as the exploration and production of oil become more challenging and technologically intensive.
Just under a fifth were interested in diversifying into unconventional oil and gas, including fracking.
The result: 3 million net acres in 13 unconventional oil and gas fields from coast to coast.
The emergence of unconventional oil and gas will have tremendous impacts on both the energy industry and the economy.
The other big industrial expansion revolves around the unconventional oil and gas boom.
Unconventional sources of oil and gas that are set for further exploitation include Canada's tar sands, shale and coal-bed methane deposits around the world.
Another impact of U.S. unconventional oil and gas development will be increased in electricity demand (occurring more dramatically in various localized pockets), directly resulting from investment in waves one and two.
Specifically, the unconventional oil and gas industry is currently one of the strongest sectors in our fragile economy, and at this point, an effective tax on this sector could impede economic growth.
FORBES: Surprise Side Effect Of Shale Gas Boom: A Plunge In U.S. Greenhouse Gas Emissions
Like it or not, IOCs still have lucrative (some would say larger) unconventional oil and gas plays they can go for in North America, Russia, East Africa, Australasia and even distinctly conventional MENA and Caspian regions.
FORBES: Chavez Contagion: The Growing Risk To Latin American Oil
In total, the energy industry expects more than two million jobs will be created in the U.S. related to the enormous energy expansion from our various unconventional oil and natural gas reserves.
It specializes in exploiting unconventional oil and shale natural gas plays within the Bakken and Three Forks formations, situated within the Williston Basin in North Dakota and Montana region.
FORBES: For Frackin' In The Bakken You Gotta Go With American Eagle
The joint venture will provide Sinopec with know-how to produce oil and gas from shale and other unconventional basins in China.
FORBES: U.S. Policies And Economic Doldrums Fuel Chinese Energy and Tech Grabs
应用推荐