Topaz Resources, Inc., www.topazresourcesinc.com – the independent, Texas-based developer of oil and gas reserves focused on a strategy of organic growth through acquisition of proven assets, and constant upgrading of existing acreage within the Barnett Shale – today cited the geostrategic/economic importance of US natural gas reserves in offsetting oil dependency on other countries.
The Barnett Shale, the biggest-producing gas field in TX, has many reserves yet to be acquired and has rapidly become one of the nation’s biggest natural gas plays.
The Obama administration’s clear language, expressed in Pittsburgh this June, has prompted a resurgent natural gas sector, and TOPZ made a clear statement today that natural gas is cleaner from an emissions standpoint (30% better than oil and 40% better than coal), and can be immediately deployed and utilized as opposed to alternatives like wind, solar and nuclear.
As drilling technology improves, natural gas reserve accessibility increases. This upswing in production capacity coincides fortuitously with concurrent expansion of a liquefied natural gas (LNG) transportation infrastructure.
Skyrocketing estimates of US gas reserves, combined with its more cost-effective and cleaner profile, make it of vital strategic importance, and the move is on to ramp up domestic natural gas production as both a catalyst for economic strength and as a job-creation engine.
Energy sector luminary Boone Pickens acknowledged that estimates contained in a June 09 report by the Potential Gas Committee (PGC, Colorado School of Mines) show 2,000 trillion cubic feet (a record jump of 34%), or enough to satisfy domestic energy requirements for a century.
An even more auspicious February report from J.P. Morgan indicates that a whopping four times as much natural gas exists (8,000 trillion cubic feet) than was reported by the PGC, or enough to power the US for several hundred years.
Mr. Pickens asseverated TOPZ’s analysis that natural gas is a perfect solution for weaning the US off oil and thus breaking the foreign dependency chain – making it unmistakably clear that the solution lies within our grasp and requires only that we seriously ramp up our natural gas infrastructure, in every aspect from drilling to pipelines and power plants.