Monthly Natural Gas Update, February 2012
In the 2012 State of the Union, President Obama said,
"We have a supply of natural gas that can last America nearly 100 years. And my administration will take every possible action to safely develop this energy."
Well said, Mr. President. The opportunity to increase domestic natural gas production will help move our nation forward and achieve energy, economic and environmental goals.
Here are the top 5 things you need to know about ConocoPhillips and natural gas this month:
- We are innovative: ConocoPhillips helped pioneer natural gas production from tight formations, which has contributed to the overall increase of natural gas reserves - now up 68 percent.
- Production is expanding: In an area of southern Texas known as the Eagle Ford play, ConocoPhillips was running 16 drilling rigs at year-end. Production there is currently about 50,000 barrels of liquids a day, and could nearly triple over the next five years.
- NG is a clean alternative: A recent article stated that, "Burning natural gas to produce electricity creates less air pollution than coal and does not require a scrubber." Learn more.
- We're spreading the news: ConocoPhillips' Americas President, Don Hrap, recently told an audience in Dallas that by 2035 natural gas could support 1.7 million jobs, and add $231 billion in GDP.
- We're on Twitter: Over 8,200 people are following us on Twitter. Join them!
We at ConocoPhillips believe natural gas plays a critical role in our energy future. Tell us what you think here.
ConocoPhillips Natural Gas Team
P.S. Check out this great article from The Wall Street Journal on the important role natural gas plays in the U.S. economy. A subscription is required, but it's worth a read.
As one of the nation's largest natural gas producers, ConocoPhillips recognizes that creating America's energy future is a highly complicated question that no one has all the answers to. While natural gas cannot be the only solution, it can and should play a big role in building a balanced U.S. energy policy.
At ConocoPhillips, we understand that there are many different constituencies. Our country is best when we collaborate toward a shared goal. Find out More
Posted: February 22, 2012