Daily Marcellus: Tulip Harvest and Timing
But this has all gone to a new level with no less than Foreign Policy publishing this piece: The Oil and the Glory: Why does big oil suddenly love Pennsylvania.
Forbes has a look at some of the new billionaires being made out of the new Marcellus investment in Pennsylvania... I don't notice any Pennsylvanians.
There is this. A new report says there will be a glut in natural gas for the next decade, followed by a 'golden age' later on.
So why are we rushing so fast to develop as much shale gas in Pennsylvania now when prices are so low, leaving that much less for when demand and prices go up. One thing for sure is that natural gas as a declining pressure curve. You get the most gas out soon after you drill. A recent overview of the pressure curve issues is in this: Marcellus Shale Decline Analysis. Looks like a college paper, but not bad and covers the basics pretty well.
Someone should work up how much Pennsylvanians are losing by developing the gas at such low prices compared to what they would get if the gas was produced at prices as projected. I also wonder if a slower pace of development would allow more Pennsylvanians to be hired and trained to work on these projects.
Anyway... you will know when the Marcellus stuff has escalated to a new level when we get new direct flights to the Middle East just as Houston just added.