I wonder what kind of lame excuse American politicians can come up with for not transitioning transportation from oil to natural gas They said they wanted off foreign oil didn’t they? It can’t be ignorance since Chesapeake Energy and T. Boone Pickens have spent millions explaining the merits of natural gas on TV. Consider the following:
Natural gas prices are trading at under $4.50 per million BTU despite a fairly cold winter. US natural gas production has increased from around 1,400,000 [million] cubic feet per month in 1985 to over 1,700,000 [million] cubic feet per month in 2008 as new drilling technologies have brought new gas production online from the Barnett, Haynesville, Bakken, and Marcellus shale formations. …
In addition to new shale developments in the lower-48, a joint effort by ConocoPhillips (COP) and BP called Denali – The Alaska Gas Pipeline, LLC, will deliver 4 billion cubic feet of natural gas daily from Alaska’s North Slope to North American markets.
For a complete discussion of the issue read here.