RE: Has the SHALE GAS "GOLD RUSH" STARTED ?Gold Rush has started per CEO Aubrey McClendon of Chesapeake Energy Corp.
He doesn't mention the paradigm of the convergence of equivilant energy cost between oil and natural gas but it seems apparantly obvious.
I especially like his push on oil import indendance and NG powered cars.
Natural gas gets push at lecture
by: JASON WOMACK World Staff Writer
4/15/2008 12:00 AM
Aubrey McClendon, chairman and CEO of Chesapeake Energy Corp., advocated that the country wean itself off of oil during a presentation Monday at the University of Tulsa.
McClendon is a proponent of using natural gas for virtually everything from the generation of power to the primary fuel for automobiles.
"The industry has completely changed as we have discovered how to extract gas from unconventional shales," he said.
That Barnett Shale and other formations throughout the country have turned the natural gas industry into a "manufacturing business," McClendon said.
Shale production has allowed Chesapeake to achieve production costs of about $2.50 per thousand cubic feet of natural gas, he said.
Following his presentation, McClendon told reporters that natural gas has become a reasonable alternative to other energy sources because of its abundance and its status as the cleanest burning fossil fuel.
He contends that natural gas can fulfill the need to fuel automobiles and generate needed electricity.
"We couldn't do it without the supply boom that's under way," he said.
Go QEC Go QEC Go QEC Yeaaaa