Tuesday, October 11, 2011

Utica Shale bigger than Marcellus?

Welcome to the Collaborative Revolution!

I had a long conversation a couple of months ago with the president of the Ohio Natural Gas Association and he mentioned that the Utica was going to come in bigger than Marcellus.  It looks like he was right.

According to an estimate from Ohio state geologists, that state's portion of the Utica alone could contain up to 15 trillion cubic feet of natural gas, which would make it a significant contributor to national supplies of the fuel that will help cut greenhouse gas emissions and create thousands of jobs.
But the Utica is distinguished by also harboring natural gas liquids and large quantities of oil which have sparked a rush by energy companies to acquire leases on millions of acres of land, especially in eastern Ohio.

The Ohio geologists calculate there could be as many as 5.5 billion barrels of recoverable oil underlying their state's share of the Utica, or about a third of the expected production from Alaska's Prudhoe Bay, the largest US oil reserve.

Read the whole thing here.
Let those numbers sink in for a minute.  15 TRILLION cubic feet of gas in Ohio ALONE and another 5.5 BILLION barrels of recoverable oil in Ohio ALONE. 

Ding ding ding.  Can you say economic winner?  What pray tell is taking place in North Dakota and western PA at this very moment?

Ultimately, we must wean ourselves off petroleum and move to an economy powered by renewable forms of engery.  But misguided attempts to force that result while renewables are not ready for prime time have proven disasterous.  Its time to develop the energy resources we have in our own back yard.  Cheap, abundant and reliable energy will fuel an economic recovery of immense proportions.  It's time to develope these resources.

James L. Salmon, Esq.
Collaborative Construction
300 Pike Street
Cincinnati, Ohio 45202
Office 513-721-5672
Fax 513-562-4388
Cell 512-630-4446
Collaborative Construction Website
Sustainable Land Development International