Rush (?) the other day mentioned that electric bills are not skyrocketing because of the implosion in natural gas prices. The widespread success in “fracking” has produced a glut of natural gas that can’t possibly be consumed. (cars?).
So expect a series of companies to get in trouble – having borrowed money to drill wells and pipelines based on the original prices and now having prices so low it won’t cover the costs of running the pumps.
http://mobile.bloomberg.com/news/2012-06-08/chesapeake-energy-to-sell-pipelines-to-gip-for-4-billion.html
Transitioning America to use natural gas makes all the sense in the world. It doesn’t require a technology breakthrough, it’s clean, and we don’t have to import it. While there may be capacity issues, most of the infrastructure to deliver it exists already.
Mitt Romney – you have a chance here to show you’re a leader. Natural gas for cars doesn’t need a subsidy, a coercive government mandate, or subsidized R&D – it just needs someone pointing in a direction and saying “let’s head that direction” and let American spirit run with it.
Once the direction is set and business believes they won’t be undercut, innovations will be found to find ways to continue to improve safety, range, performance and gas production. Let’s get going already.
Amen.
“Mitt Romney – you have a chance here to show you’re a leader. ”
You are so right Art ! Pointing out the obvious, they should run with that . Romney campaign is running political ads here in Virginia on what he would do on Day One, saying unleashing business. No details in the 30 second ad, but Natural Gas information would be perfect for the spot.
Using it to generate electricity and get rid of those damn wind turbines!
Eliminate NDAA, to bring in more conservatives, so they won’t be siphoned off to small third party candidates. They need to think about these things or we’ll have ‘OBO’ for four more and he’ll really raise unemployment
Coal mines are shutting down here in southwest Virginia, lack of buyers for good steam coal.
Saw that in the newspaper yesterday.
parrott
That’s due to Obama’s EPA setting emission standards for coal plants below levels that even the cleanest coal can’t meet. He did promise to bankrupt power companies that burn coal. It’s not like he didn’t tell people.
If President Romney announced a national commitment to transition transportation to natural gas, the price of oil would collapse overnight to $40 a barrel which would ripple throughout the world – perhaps even causing global financial collapse. But we’ll at least find out who is really controlling the US Government and Media. If Mitt Romney and Bain Capital are funded by Saudi money, let’s find that out now.