Natural Gas Caucus Launched
Congressman Glenn Thompson and other members of Congress officially launched the House Natural Gas Caucus today at a hearing to discuss the state of US natural gas.
The hearing included testimony from industry experts, business officials and scholars, including Dr. Robert Watson of Penn State, who said over the next 5 years Marcellus Shale will probably transform Pennsylvania into a net exporter of natural gas.
He said in 10 years the industry could be generating about 175,000 jobs.
Thompson said the country works toward clean, sustainable energy development, renewable energy is not at the place yet where it can take over for the 85 percent of power and energy still generated by fossil fuels.
T. Boone Pickens reinforced those views when he testified that, “Natural gas is the bridge to the next fuel. We have 2000 trillion cubic feet of untapped natural gas in this country, which is equal to 350 billion barrels of oil. That is one and one-half times more oil than in Saudi Arabia. This is a global game changer.”
We’ve got to get off foreign oil, and the only immediately available transportation fuel that can replace it is natural gas,” said Pickens.
Pickens explained that in September this country purchased 357 million barrels of oil at a cost of $25 billion. He said two-thirds of our trade deficit is for the purchase of oil. He pointed to the Marcellus shale play identified on a U.S. map and said, “Marcellus shale—can you imagine how many jobs are going to be developed there?”
information from a press release e-mailed from Tina Kreisher in Thompson's office
The hearing included testimony from industry experts, business officials and scholars, including Dr. Robert Watson of Penn State, who said over the next 5 years Marcellus Shale will probably transform Pennsylvania into a net exporter of natural gas.
He said in 10 years the industry could be generating about 175,000 jobs.
Thompson said the country works toward clean, sustainable energy development, renewable energy is not at the place yet where it can take over for the 85 percent of power and energy still generated by fossil fuels.
T. Boone Pickens reinforced those views when he testified that, “Natural gas is the bridge to the next fuel. We have 2000 trillion cubic feet of untapped natural gas in this country, which is equal to 350 billion barrels of oil. That is one and one-half times more oil than in Saudi Arabia. This is a global game changer.”
We’ve got to get off foreign oil, and the only immediately available transportation fuel that can replace it is natural gas,” said Pickens.
Pickens explained that in September this country purchased 357 million barrels of oil at a cost of $25 billion. He said two-thirds of our trade deficit is for the purchase of oil. He pointed to the Marcellus shale play identified on a U.S. map and said, “Marcellus shale—can you imagine how many jobs are going to be developed there?”
information from a press release e-mailed from Tina Kreisher in Thompson's office
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Comments
And how long will we be standing on the bridge?