Would you like to start a free subscription?
Remember me | Forgot password
For full content view: Log in Now!
Gas outlook is scary. In recent testimony before the U.S. House Subcommittee on Energy and Mineral Resources of the Committee on Resources, Matt Simmons, President of Simmons & Co. International, described the growing natural gas supply imbalance and offered some solutions to correct it. Simmons says that natural gas demand will grow faster than once thought as America increases its electricity use, while supply continues to stay flat. Furthermore, the concept that gas supplies could grow to even partially meet a demand of around 30 Tcf a year is becoming a remote dream. If supply falls by as much as 10%, and the drop could be far worse, this could become America’s most serious energy wake-up call since the 1973 oil shock.
In March 2000, the National Petroleum Council (NPC) issued a report that presented a compelling case as to why gas supplies must grow from 22 Tcf to almost 30 Tcf by 2010. However, the U.S. already has on stream a number of gas-fired power plants that is very close to that which the NPC study assumed would be built by 2010. Simmons says there are almost as many additional gas-fired plants still under construction as have been built thus far, despite cancellations right and left in the wake of Enron and other energy traders’ scandals.
This area of the site is restricted.
In order to gain access, please either Log
In, or subscribe to World Oil.
Two options are available to you for creating an account.
1. Get a Free Trial Subscription to World Oil Magazine and gain immediate access to select content on World Oil Online.
Start a Free Trial Subscription and gain immediate access to the complete current issue of World Oil Magazine. Plus, you’ll receive 3 upcoming issues of World Oil Magazine in print or digital format.* You also receive access to the Energy Events Calendar, Industry Statistics and WO Wire’s news and industry coverage.
2. Purchase a subscription to World Oil magazine and gain immediate
and complete access to World Oil Online. As a Total Access subscriber
you will have access to all areas of the site available to registered users and
free subscribers as well as having access to such premium content areas as:
Physical copies of this content may be available for purchase. Visit the Reprints & Back Issues section.
If you are already a paid subscriber and do not have access, please email CustomerService@worldoil.com.
World Oil's specialized upstream Engineering Data Tables featuring the Drill Bit Classifier, Tubing Tables and more. Get Total Access today.
Bucharest - April 28-30
Houston, TX - May 5-8
Savannah, GA - May 5-8
All material subject to strictly enforced copyright laws.
© 2014 World Oil. © 2014 Gulf Publishing Company.