Thompson: America is just beginning to realize the opportunity of plentiful gas
April 12, 2013
Mr. Speaker, yesterday, it was reported the United States has 2.4 quadrillion cubic feet of natural gas that can be recovered by current drilling techniques, according to a study by companies working in various shale basins across the country.
That's 26 percent higher than the previous assessment - and at current consumption rates, a 90 year supply.
The Marcellus Shale has the largest share of resources, with an estimated 741,320 billion cubic feet.
What has caused such a large jump in resources and production? Not of the federal government, that's for sure.
According to the Congressional Research Service, production of natural gas has decreased on federal lands by 23%.
It's the hard work and innovation of private industry - a combination of technological and drilling advances that have allowed us to access resources that were previously inaccessible -- all in a responsible and environmentally friendly way.
In fact, just last week, the Energy Information Administration stated that expanded use of natural gas has driven down energy-related U.S. carbon dioxide emissions to their lowest level since 1994.
America is just beginning to realize the opportunity of this growing and economically beneficial resource. I yield back.