News: Not 17 but 6 Year Supply of Gas Left in Marcellus Shale, per U.S. Energy Admin Jan 2012 report

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From New York Times: New Report by Agency Lowers Estimates of Natural Gas in U.S.

Under the agency’s new estimates, the Marcellus shale, which was previously thought to hold enough gas to meet the entire nation’s demand for 17 years at current consumption rates, contains instead a six-year supply. The report comes just five months after the United States Geological Survey released its own estimate of 84 trillion cubic feet for the Marcellus shale. The Energy Information Administration said the sharp downward revisions to its estimates were informed by more data. “Drilling in the Marcellus accelerated rapidly in 2010 and 2011, so that there is far more information available today than a year ago."

(Continue reading http://www.nytimes.com/2012/01/29/us/new-data-not-so-sunny-on-us-natural-gas-supply.html?_r=2&wpisrc=nl_wonk at NY Times Jan 28, 2012 )
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