Importance of Off-Shore Gas Decreases with Rise of Shale Gas
The Gulf of Mexico has traditionally been a big source for both oil and natural gas for the U.S. When hurricanes blow through the Gulf and shut down oil and gas rigs, the markets always respond. That is, until now.
Even though Hurricane Isaac took an eerily similar path to Katrina (from 2005), and although nearly 3/4 of natural gas production coming from rigs in the Gulf was “shut-in” (or stopped, in lay terms), how did the markets respond? Gas futures prices went up 2%—hardly a blip. Why? Because of an abundance of shale gas—including (particularly) an abundant supply of shale gas from the Marcellus.
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MDN is excited to release an important new resource—a free map—to help you understand the situation in New York State with fracking. A copy of the map is embedded below.
Depending on which news source you read, yesterday’s anti-fracking protest rally and march in Albany, NY drew “hundreds” of protesters, “more than 1,000” or “about 1,200.” Any way you slice it, there were a lot of loud-mouthed people in Albany yesterday, trying to catch the attention of one person: Gov. Andrew Cuomo.