WHO CONTROLS FUEL SUPPLY?
The price of fuel is a big news topic since prices have begun to climb. As everyone knows, supply is basic to price, but something that not everyone knows is that the supply of fuel is hidden because it is underground, and we have to the the supply on faith. We cannot count the gallons of oil or natural gas products, or even count the containers, because all of the critical supply is stored in vast caverns that are controlled only by their two or three owners. There is certainly a dwindling supply: no more fossil fuel is being made, but how much is available today and tomorrow, so that we can make intelligent decisions about the future, is information that needs to be transparent. So far, those who can tell us - those who own the underground caverns - can give us numbers we have to take on faith. With the burgeoning of shale exploration, this may change: we can only hope it does.
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SHALE GAS -- IT'S OFFICIAL NOW
The place of shale as the new source of fossil fuel has been made certain by Energy Secretary Chu's announcement of a subcommittee on shale gas extraction to Secretary of Energy Advisory Board on May 5, 2011. Representatives from government, academia, industry and environmental protection advocacy groups will identify ways to improve the safety and environmental performance of shale gas exploration. With the appointment of this committee, any question about whether shale has been accepted as the next source of fossil fuel is laid to rest: shale is the next big thing, and for the long haul. This will have enormous consequences for the natural gas and propane market, as we have been discussing since last year. You heard it here first!
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