Natural Gas Fails To Meet Expectations

摘要

Promises, promises, promises! In year 2000, natural gas was the promised energy source for the U.S. for the new century. Natural gas was the "bridge fuel" of the new era. Supplies were more than plentiful with little reason to seek foreign sources to meet the growing demand. Domestic areas would provide new exploration targets and gas supply would easily meet the increased demand. And, consumption was going to grow, especially for use as a fuel in electric generation. Natural gas demand had risen from the low 20 trillion cubic feet per year (Tcf/y) and was moving up as the century ended. Expectations were that demand would reach 30 Tcf/y by 2010, maybe even faster, depending on who was making the prediction. Gas prices, because of the abundant supply, were low and would remain low especially in comparison to crude oil products. Natural gas was king!