IHS Report: Shale Gale Turns 10, Looking Back & What’s Ahead

Here’s a bold prediction: The Age of Natural Gas will replace the Age of Oil–within our lifetimes. That’s the thought running through our head as we read a new report from analytics/consulting powerhouse IHS Markit titled, “The Shale Gale Turns 10: A Powerful Wind at America’s Back.” IHS Markit expects natural gas production to rise by almost 8 billion cubic feet per day (Bcf/d), more than 10%, in 2018 alone. Altogether, U.S. production is expected to grow by another 60% over the next 20 years, according to the report. Additionally, IHS Markit now estimates that approximately 1,250 trillion cubic feet (Tcf) of U.S. supply is economic below $4 per thousand cubic feet (Mcf). That’s up from a previous estimate of 900 Tcf in 2010. “To say that the ‘Shale Gale’–as IHS Markit originally coined it in 2010–has been anything but a veritable revolution would be an understatement,” says Daniel Yergin, vice chairman, IHS Markit and co-author of the report. “It represents a dramatic and largely unanticipated turnaround that dramatically changed both markets and long-term thinking about energy.” Indeed. Here’s more about the report…

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