Thursday, July 30, 2009

Gas Reserves Continue to Grow

Pass the Beeno; US natural gas reserves continue to grow:

The Energy Department's Energy Information Administration said in its weekly report that natural gas inventories held in underground storage in the lower 48 states grew by 71 billion cubic feet to about 3.023 trillion cubic feet for the week ended July 24.

Analysts had expected an injection of between 70 billion and 74 billion cubic feet, according to a survey by Platts, the energy information arm of McGraw-Hill Cos.

The inventory level was 18.8 percent above the five-year average of about 2.545 trillion cubic feet, and 23.3 percent above last year's storage level of about 2.452 trillion cubic feet, according to the government data.

- Brewskie


  1. Great post Brewskie, one after another. Best blog on the web. They are still resolutely ignoring natural gas at TOD. Seems like we have gas for centuries.
    Maybe we have oil for centuries too. Ever wonder what would happen if Venezuela, Iran, Iraq, KSA, Nigeria etc actually became okay places to do business? B Cole

  2. Best Blog on the net? Lol! Well, let fate herself sort that out, but thanks; you have no shortage of praiseworthy words.

    When you consider "thug worthy" oil-producers - Iran, Nigeria, Venezuela, etc. - and you consider a recent post, "America's Phantom Oil," which notes some worthy Rapier work, you truly have to consider with their great underproduction: how much extra oil do they have left sitting under their soot? Seriously: America, with roughly 27 billion barrels in reserves in 1982, managed to crank out nearly 57 billion barrels by 2005, despite a dearth of major discoveries. So again, with the thugs’ tepid pumping, you really have to wonder how much extra they have in tow.

    Rather mystique.