By Bill Powers
Relying on defective technological know-how, bought-and-paid-for-white papers masquerading as self sustaining learn and "industry consultants," the "shale promoters" have tremendously overstated the practicable provide of shale gasoline assets for his or her personal monetary achieve. This startling exposé, written by way of an insider, means that the stakes desirous about the Enron scandal may appear like lunch funds compared to the bursting of the normal gasoline bubble. Exhaustively researched and conscientiously documented, Cold, Hungry and within the Dark:
- Puts supply-and-demand traits less than a microscope
- Provides overwhelming proof of the absurdity of the only hundred-year offer fantasy
- Suggests various how one can mitigate the impending average gasoline rate spike
The mainstream media has informed us that usual fuel may be affordable and ample for many years, while not anything can be farther from the reality. Forewarned is forearmed. Cold, Hungry and within the Dark is essential interpreting for somebody interested in the inevitable monetary influence of our doubtful strength future.
Bill Powers is an writer, inner most investor, contrarian and sits at the board of administrators of Calgary-based Arsenal Energy.
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Additional info for Cold, Hungry and in the Dark: Exploding the Natural Gas Supply Myth
Despite several years of damaging natural gas supply shortfalls, sweeping legislative reform of the natural gas industry had to wait until 1978, when the National Energy Act (NEA) was passed through Congress and signed into law by President Carter, on November 8, 1978. 03: Letter from the US Mint. L. L. L. L. L. 95-621) The two acts aimed directly at alleviating the worsening natural gas crisis were the Power Plant and Industrial Fuel Use Act (FUA) and the Natural Gas Policy Act (NGPA). 36 The NGPA increased wellhead price ceilings to provide additional economic incentives for producers.
01. 1 Source: Energy Information Agency. ) While the NGPA did succeed in increasing gas production in 1979, the year after its enactment, its two-tiered pricing mechanism caused serious market distortions. The 1981–82 recession, which caused a drop-off in demand and lower prices for “new gas,” resulted in substantial economic losses for pipeline companies, who were locked into take-or-pay contracts despite lower-cost new gas being available on the open market. Instead of taking all the losses they would have incurred by selling gas to customers below the price they were paying producers, they simply cut back on purchases of cheaper new gas.
How this book is organized I have divided this book into four parts. In Part One, I will provide a brief history of the US natural gas market and its regulation. I will pay special attention to the gas crisis of the 1970s, the nation’s first. C. bureaucrats set natural gas prices using a byzantine system. I will discuss how these price controls led to severe and long-lasting market imbalances. I will also detail the economic and personal fallout from curtailments of natural gas that occurred in virtually every region of the country.