Cheap natural gas means Americans can buy the equivalent of a barrel of crude for $35. That's the exciting reality that has Ron Muhlenkamp putting his investment dollars behind the next great fuel switch, this time in the transportation sector.
Shale gas is not the foundation of U.S. energy security that conventional wisdom claims, says Bill Powers in this interview with The Energy Report. But as shale gas peters out, the law of supply and demand will drive gas prices up.
The numbers don't lie—but politicians and industry bigwigs do. While pundits still wax poetic about an era of American energy independence, Bill Powers sees productivity plummeting in almost every major shale play.
This year's somewhat longer winter shored up the overall inventory picture, which is more or less back to normal. If we have typical summer weather, we could enter the heating season with inventories slightly below average.
Energy pundits sing natural gas' praises, but Bill Powers, author of "Cold, Hungry and in the Dark: Exploding the Natural Gas Supply Myth," isn't buying it. He sees serious flaws in how reserves are reported.
The shale gas "miracle" is overhyped and bound to disappoint. That's what energy expert Bill Powers argues in his upcoming book. But Powers says that this could be a very good thing for oil and gas companies and their shareholders.