Superabundance of Natural Gas Provides Promise
"Every few weeks, it seems, fresh news arrives telling of impressive discoveries of oil and gas in the Gulf of Mexico, an area that, until recently, was viewed as well worked over and unlikely to yield any new bonanzas. Last September brought word of a giant Gulf oil field reeled in by British Petroleum. And the latest Gulf headline-maker is a potentially major gas play offshore Louisiana that appears likely to add new trillions of cubic feet of gas to growing domestic reserves of the cleanest-burning carbon fuel. So much for worked over. The new take on the Gulf is decidedly more optimistic.
When coupled with discoveries of huge new reserves of natural gas across Texas, Arkansas and Louisiana, and in Colorado and Pennsylvania and West Virginia, this latest projected Gulf find makes natural gas a truly abundant fuel for this country.
In part, gas still suffers from an old misconception, left over from the first energy crisis in the 1970s, that it is scarce and that supplies are expensive and unreliable. This notion is the result of a well-remembered battle to deregulate interstate prices for natural gas. Deregulation came, of course, and the result is the superabundance of gas the nation enjoys today.
The other trouble gas has is political — it must contend with the compelling electoral arithmetic that is coal's undisputed advantage. As we saw in the 2008 presidential campaign, the electoral votes in coal-producing states make the environmentally problematic fuel irresistible to national political candidates."
~Houston Chronicle editorial