The Wall Street Journal describes a new study which suggests Gas Boom Projected to Grow for Decades.
The study starts with detailed look at actual production in the Barnett Shale field. It concludes that production in the US is going to increase for decades. The article’ lede:
U.S. natural-gas production will accelerate over the next three decades, new research indicates, providing the strongest evidence yet that the energy boom remaking America will last for a generation.
Not continue the current rate of increase. Accelerating production. For another generation.
Cool.
Why doesn’t Hollywood just make blockbusters?
The article cites an industry critic who thinks the forecasts for the industry are overly optimistic. There is obviously far more to his opinion and views than is covered in one sentence. Yet I chuckled at this quote:
But he said it {the study} bolsters his view that only a quarter of Barnett wells generate an economic return. The question for the industry, he said, is, “why didn’t they identify the sweet spots initially, before spending $40 billion on land and wells?”
Let’s extend that concept to other industries.
Why didn’t Hollywood identify the blockbusters before they spent millions and millions on movies that flopped?
Why didn’t Wall Street identify the superstar stocks before they brought all those do nothing IPOs to market?
Why didn’t the big banks identify good customers before they made all those loans to companies that went bankrupt?
Why doesn’t Big Pharma identify blockbuster drugs before they dump a billion dollars into a drug they have to abandon?