US shale gas production has grown from around 4 billion cubic feet (bcf) per day in 2007 to around 26 bcf/day in 2012 US gross natural gas production has grown from a plateau of 2 trillion cubic feet (tcf) per month in the period 1995 to 2002 to 2.5 tcf per month in 2012 Some believe this is marching the USA towards energy independence while others believe, owing to costs and decline rates, that this may be an energy bubble At the end of 2011, shale gas accounted for 32% of total US natural gas production (EIA data) Pre 2008 financial crash, there were roughly 400 rigs drilling oil in the USA and 1600 drilling gas. Today it is roughly 1400 drilling oil and 400 drilling gas The fall in US prices to while in fact over-production caused a crash in the price in US natural gas to […]