A comprehensive study released today by the American Clean Skies Foundation (ACSF) and Navigant Consulting, Inc. (NYSE:NCI) indicates the United States has 2,247 trillion cubic feet (Tcf) of natural gas reserves, which is enough to last more than 100 years.
Today's announcement expands on and explains why existing forecasts from the U.S. Energy Information Administration (EIA) have historically underestimated and understated the contribution and potential of unconventional natural gas from three sources: tight sands, coalbed methane and gas from shale formations.
"As oil prices have recently soared, there's an increased focus on American-produced, affordable, clean energy solutions. To help determine the long-term viability of natural gas as an answer, ACSF engaged NCI to develop a comprehensive assessment of the current state of North American natural gas production, with a particular focus on analyzing the future of rapidly expanding natural gas production from unconventional formations such as shales," said Aubrey K. McClendon, chairman of ACSF and chairman and CEO of Chesapeake Energy Corporation. "New technologies have allowed the rapid emergence of gas shales as a major energy source, representing a truly transformative event for U.S. energy supplies. American producers can clearly supply enough natural gas to meet today's uses and become an economical source of transportation fuel in the form of CNG or greater supplies of electricity for plug-in hybrids for generations to come."
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