Exploring Hydrocarbon Depletion
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Page added on March 22, 2012
The boom in natural-gas production has hit a new pressure point: The U.S. is running out of storage space.
Gas output has reached record levels in recent months, thanks in large part to the expansion of shale-gas fields. And the warm U.S. winter has reduced the amount of gas needed to heat homes and offices. That has filled storage facilities—often underground salt caverns or depleted oil and gas fields—to 57.8% capacity.
With forecasters anticipating a mild summer, reducing the need for air conditioning, and fields continuing to pump out gas, many market experts anticipate storage facilities will fill up…