Once upon a time, so-called smart people thought oil would run out at some point (“peak oil” theorists). Such theories have been around since the 1880s, the begging of oil! In the modern era those theories renewed again in the early 2000s. And since then, some have lumped natural gas in with it as well. As in, any day now the “house of cards” that is shale drilling will collapse and the gas will dry up and prices will go through the roof. None other than top oil and gas analyst Richard Zeits, writing on the Seeking Alpha investor website, calls peak gas theories in the same category as conspiracy theories. In our words, peak gas has moved to the tinfoil hat brigade. Kooks. Wackos. But there’s still plenty of them around. Every time overall production drops a bit, the peakers poke their heads out to claim “this is it!” Zeits offers his insights into why there will be plenty of natural gas, for at least the next 10 years (likely much longer), why production will continue to ebb and flow (market demand), and what it all means for prices in the short and longer term…
