Oklahoma’s natural gas producers are celebrating a study released today that says the nation’s existing supply of the fuel is enough to last more than a century.
“As oil prices have recently soared, there’s an increased focus on American-produced, affordable, clean energy solutions,” said Aubrey McClendon, chairman and chief executive officer of Chesapeake Energy Corp.
McClendon said the American Clean Skies Foundation, which he is chairman of, hired Navigant Consulting Inc. to help determine the long-term viability of natural gas as an answer.
The study analyzed the future of rapidly expanding natural gas production from unconventional formations, such as shale natural gas fields, he said.
“New technologies have allowed the rapid emergence of gas shales as a major energy source, representing a truly transformative event for U.S. energy supplies,” McClendon said Wednesday. “American producers can clearly supply enough natural gas to meet today’s uses and become an economical source of transportation fuel in the form of CNG or greater supplies of electricity for plug-in hybrids for generations to come.”
Rick Smead, one of the study’s co-authors, talks about what the research found here.
By Jack Money, Business Writer
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