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Chapter 22 A Very Short History of American Natural Gas and Regulatory Stupidity

Power Hungry by Robert Bryce. Chapter 22 A Very Short History of American Natural Gas and Regulatory Stupidity. MET 321 Ian Markon March 25 th , 2013. Natural Gas – The Early Years. Late 19 th century to late 1940’s. Oil = Cash Easy to store Easy to transport

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Chapter 22 A Very Short History of American Natural Gas and Regulatory Stupidity

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  1. Power Hungry by Robert Bryce Chapter 22 A Very Short History of American Natural Gas and Regulatory Stupidity MET 321 Ian Markon March 25th, 2013

  2. Natural Gas – The Early Years Late 19th century to late 1940’s • Oil = Cash • Easy to store • Easy to transport • Easy to deal with dangers • Natural Gas = Trash • Cheap by-product of oil industry • Difficult to transport • Blows up! Improvements in welding and pipe-forming technology slowly make transport of abundant natural gas more feasible.

  3. Natural Gas – The Boom Late 1940’s to 1958 • 1947 – Flaring of natural gas made illegal in Texas • If you can’t burn it, sell it! • 1949 to 1957 – U.S. natural gas consumption doubles • 1958 – Natural gas overtakes coal to become second-largest primary energy source in U.S.

  4. Natural Gas – The Regulation 1950’s to 1987 • 1954 – Phillips Petroleum Co. v. Wisconsin; federal government given power to set interstate natural gas prices • 1970’s – Natural gas shortages produced by government regulations put thousands out of work as utility companies were forced to choose between their customers • 1978 – Federal government passes Industrial Fuel Use Act and Natural Gas Policy Act; coal booms as natural gas is regulated out of the electricity-production industry(irony?) and natural gas production plummets

  5. Natural Gas – The Recovery 1987 to Present • 1987 – Federal government begins deregulating natural gas; market slowly begins to recover • Natural Gas Reserves • 1989 – 168 trillion cubic feet of proven gas reserves • 2008 – 237 trillion cubic feet of proven gas reserves • Over that twenty year period, the U.S. used 390 trillion cubic feet of natural gas • “The more gas the nation produces, the more gas it finds” -- Bryce

  6. Questions Q – Have government regulations on natural gas proven beneficial or detrimental? Q – Is the U.S. running out of natural gas?

  7. Questions Q – Have government regulations on natural gas proven beneficial or detrimental? A – detrimental Q – Is the U.S. running out of natural gas?

  8. Questions Q – Have government regulations on natural gas proven beneficial or detrimental? A – detrimental Q – Is the U.S. running out of natural gas? A – no

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