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Page added on April 29, 2006

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Natural Gas Economy Is Losing Steam

Retired Yale economist Paul MacAvoy says price jerks and fuel crimps could soon rival California’s electricity nightmare of 2000-2001. “Everything that has gone wrong in electric power is going to go wrong with natural gas, unless we do something,” he says. “It’s just a few miles down the road.”


Industry leaders say they’re trying to fix things, but declining gas fields and harder-to-reach new ones are limiting output. “You’ve got to drill more wells, you’ve got to run faster, just to replace what has declined,” says Bobby Shackouls, CEO of producer Burlington Resources and past chairman of the Petroleum Council.


Forbes



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