Barnett, Marcellus, Bakken

By July 22, 2008Economy, Energy

As the Congressional debate between supply and no-more-supply continues this week, we highlight the benefits of energy development.

From Marketplace Morning, “Energizing Fort Worth charities“:

Kate Archer Kent: In the heart of Fort Worth, energy company money is funding the construction of an enormous steel skeleton. This isn’t another headquarters for big oil. It’s the Fort Worth museum of Science and History, getting a $75 million makeover.

The construction activity above ground mirrors what’s going on a mile-and-a-half below. The same firms that are helping refurbish the museum are drilling into the Barnett Shale, one of the nation’s largest natural gas fields.

Pittsburgh Tribune-Review, “Natural gas in Marcellus Shale can create revenue, jobs“:

Higher gas prices coupled with the abundant natural gas reserves trapped in Marcellus Shale underneath Western Pennsylvania have been good for those who own the rights to the gas, the drillers and gas companies, and job-seekers, say industry experts.

“It is the last great natural gas play in the United States,” said Kent F. Moors, director the Energy, Policy and Research Group at Duquesne University in Pittsburgh.

For the moment.  And from the Canadian Great Plains, a report from the Neue Zuricher Zeitung, the big Swiss paper, “Goldgräberstimmung in Kanadas Westen,” i.e., “Gold Rush Mood in Canada’s West”:

The economic balance is shifting west in Canada. Following in the path of the energy province, Alberta, now Saskatchewan is experiencing a boom. The province is Canada’s grain bin but is now profiting more and more from production of oil, uranium and potash.

Included is a discussion of the Bakken formation and horizontal drilling. Here’s a nice headline: “Rising standard of living.”

 

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