Finally, a replacement for 'Big Oil'?

Filed under: Commodities, Oil

Can any fuel form make a serious run at oil use in the U.S. in the decade ahead? Natural gas might -- largely as a result of natural gas' abundant domestic supply, if new drilling techniques are deemed environmentally safe.

Briefly, the new techniques -- including one called 'hydraulic fracturing' -- enables natural gas suppliers to profitably access more gas than before. As a result, the Potential Gas Committee says the United States now has a more than a 100-year supply of natural gas.

However, issues regarding possible well water and ground water contamination at sites that used the new drilling techniques are currently under investigation by several U.S. environmental regulatory bodies, including the U.S. Environmental Protection Agency, The New York Times reported. If proven to be unsafe, that would, most likely, decrease the U.S.'s natural gas reserves from current estimates.

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Finally, a replacement for 'Big Oil'? originally appeared on BloggingStocks on Tue, 22 Dec 2009 17:00:00 EST. Please see our terms for use of feeds.

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