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Interest in Michigan natural gas drops as focus shifts to oil

The Detroit News -- It was the boom that never arrived and, right now, it's unclear if it ever will.

Just two years ago, Michigan's underground stores of natural gas drew interest from energy companies around North America. Many predicted the state would quickly begin seeing the jobs and economic benefits of gas exploration and production, two things sorely needed here.

Since the height of that interest in May 2010, when companies paid a record amount per acre for state-owned oil and gas lease rights, not much has happened below ground.

What happened? Increased supplies of natural gas from other states flooded the market, dropping prices. And earlier this year, the U.S. Department of Justice and the Michigan Attorney General's Office confirmed an investigation into possible collusion among companies to...


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Submitted Oct 23, 2012 By: NOTSOGRN
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Interest in Michigan natural gas drops as focus shifts to oil Back to Topics
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tomok
Champion Author Portland

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Message Posted: Oct 24, 2012 4:09:29 AM

Interest in Michigan natural gas drops as focus shifts to oil, save the natural gas for future use when the other states have run out of natural gas.
As more and more vehicles are built to use natural gas OR converted over to natural gas, more natural gas will be used and the price of natural gas will go up. Don't expect natural gas to stay low for very long, the trend for all fuel prices is always up and up! It does Not matter if you have to heat your house with it either, higher natural gas prices coming. Recently, an article on here said that less natural gas will be produced because there is NO profit to keep drilling and producing more natural gas. Less Supply, Higher NatGas prices coming!
Big Oil and Big Gas exports fuel and natural gas to other countries that will pay more for it, much more than here. There will be NO price reduction or cheaper prices for natural gas IN the US, so it does NOT matter how much crude oil or natural gas is produced.
'Coming out of the closet' Fred's lousy, smoke and mirrors, lack of jobs, dog and pony show and in the crapper economy, the 'jobs' are Not here. Fred's economy is not improving but continues to hurt the population and the job numbers continue to be down. People will still drive and buy fuel no matter what but it sure helps to have a job too!
Whatever the size or shape of the vehicle, Produce and ‘Drive’ vehicles with high MPG, are very safe, reliable, have a ‘reasonable’ cost and a good ‘value’ for the money.
The price of fuel at the pump is too high!
XII/XXII/MMXII!
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jmaustin80
Sophomore Author Alaska

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Message Posted: Oct 24, 2012 2:05:40 AM

I dought they'll ever match the power/torque that we get with regular gas
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Dodge_Me
Champion Author Atlanta

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Message Posted: Oct 23, 2012 11:56:59 PM

Okay
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boatfloyd
Champion Author Jacksonville

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Message Posted: Oct 23, 2012 11:51:16 PM

Wall-Street has made allot of money on the Natural Gas :).
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Zonk
Champion Author Michigan

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Message Posted: Oct 23, 2012 11:39:39 PM

Not today, but some day.
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Tsunamiron
Champion Author Jacksonville

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Message Posted: Oct 23, 2012 11:38:01 PM

Save the gas to heat our homes in the winter instead.
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jcdakota
Champion Author Baltimore

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Message Posted: Oct 23, 2012 11:37:37 PM

No big oil investment if they can't gouge the consumer!!!!!
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jetskijerry
Champion Author North Carolina

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Message Posted: Oct 23, 2012 11:37:09 PM

Collusion is the word...
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rattlewagon
Rookie Author Arizona

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Message Posted: Oct 23, 2012 11:34:28 PM

Guess the oil companies decided to keep their natural gas and tell everyone to frack off...
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shores4now
Champion Author Kentucky

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Message Posted: Oct 23, 2012 11:34:16 PM

Ok
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mfeldstein
Champion Author Ottawa

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Message Posted: Oct 23, 2012 11:30:49 PM

Too bad; arrived at the game a little late.
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fredtheturd
Sophomore Author Kansas

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Message Posted: Oct 23, 2012 11:29:03 PM

We're still going to need that gas eventually...
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Hunter724
Champion Author New Hampshire

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Message Posted: Oct 23, 2012 11:28:30 PM

Old news...
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pastorpaulcg
Champion Author Virginia

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Message Posted: Oct 23, 2012 11:28:07 PM

Okay
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mrbee
Champion Author Little Rock

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Message Posted: Oct 23, 2012 11:28:03 PM

When the price goes up, they will be more interested.
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teamsimons
Champion Author South Carolina

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Message Posted: Oct 23, 2012 11:27:12 PM

We commented on this article a day or two ago also...
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olympusman2004
Champion Author Washington DC

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Message Posted: Oct 23, 2012 11:26:51 PM

we need energy independence so go for it
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tedjm1
Champion Author New York

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Message Posted: Oct 23, 2012 11:26:42 PM

You have to watch these ccompanies. They will act in concert (under cover) to benefit their bottom line by whatever mechanism they can. Motto is Do what makes us money, either now or in the short term future.
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Dsin44
Champion Author Abbotsford

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Message Posted: Oct 23, 2012 11:25:51 PM

price of natural gas is to cheap at the moment.. wait till the prices rise
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10k
Champion Author North Carolina

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Message Posted: Oct 23, 2012 11:25:35 PM

DHAN, and get rid of nobama..
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Jmac2008
Champion Author Missouri

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Message Posted: Oct 23, 2012 11:25:04 PM

ok
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granitestater
Champion Author New Hampshire

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Message Posted: Oct 23, 2012 11:24:41 PM

Competition spurs price drops...
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gaspumpin
Champion Author Indiana

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Message Posted: Oct 23, 2012 11:23:44 PM

Focus will shift back to natural gas as the price of gas goes up.
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Badjef
Champion Author Florida

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Message Posted: Oct 23, 2012 11:22:48 PM

I'd rather use rat urine.
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souly
Champion Author Montreal

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Message Posted: Oct 23, 2012 11:22:17 PM

thanks for the post
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bvrbill
Champion Author Eugene

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Message Posted: Oct 23, 2012 11:21:29 PM

Oil or Nat Gas. It's good to have options.
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Bigwaynef
Champion Author South Carolina

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Message Posted: Oct 23, 2012 11:21:26 PM

Obummer says it's not natural...
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crreed1
Champion Author West Virginia

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Message Posted: Oct 23, 2012 11:20:27 PM

price will raise & they will be back
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BobD2009
Champion Author Long Island

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Message Posted: Oct 23, 2012 11:19:56 PM

Drill baby drill, energy independence!
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rawdog1313
Champion Author Lexington

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Message Posted: Oct 23, 2012 11:17:00 PM

Whatever helps getting us to Energy independence, I'm all for it!
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madison8359
Champion Author Cleveland

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Message Posted: Oct 23, 2012 11:15:42 PM

NG is the future it is clean, domestic and cheap.
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rahcat
Champion Author Grand Rapids

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Message Posted: Oct 23, 2012 11:15:39 PM

Michigan should just bide it's time.
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PrinceLH
Champion Author Ontario

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Message Posted: Oct 23, 2012 11:14:56 PM

They'll get their turn.
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Glock26
Champion Author Dayton

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Message Posted: Oct 23, 2012 11:14:43 PM

O.K.
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WVUtailgater
Champion Author Cleveland

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Message Posted: Oct 23, 2012 11:13:51 PM

it will all happen in time
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DABEE1073
Champion Author San Diego

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Message Posted: Oct 23, 2012 11:13:40 PM

IT WILL ALWAYS BE THERE FOR THE FUTURE.
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jrschl
Champion Author Louisville

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Message Posted: Oct 23, 2012 11:13:15 PM

Flip-Flopping.
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defiancegasman
Champion Author Ohio

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Message Posted: Oct 23, 2012 11:12:00 PM

It will BE BACK!
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a14morfun
Champion Author Ontario

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Message Posted: Oct 23, 2012 11:10:49 PM

bummer for Mich
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suicyco16
All-Star Author Phoenix

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Message Posted: Oct 23, 2012 11:10:35 PM

Well that stinks.
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Ray_10589
Champion Author New York

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Message Posted: Oct 23, 2012 11:10:01 PM

Natural gas is good ...
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Blue_Cruzer
Champion Author Lexington

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Message Posted: Oct 23, 2012 11:08:38 PM

Interesting.
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bridgerunner
Champion Author Virginia

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Message Posted: Oct 23, 2012 11:08:14 PM

It is like a bank account.
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Ticoman54
Champion Author Miami

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Message Posted: Oct 23, 2012 11:06:09 PM

Time will only tell what the future will bring.
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obimerrill
Champion Author Cincinnati

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Message Posted: Oct 23, 2012 11:05:22 PM

It may come to Michigan eventually, but only if government doesn't get in the way.
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southrob
Champion Author Tucson

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Message Posted: Oct 23, 2012 11:04:45 PM

dhan for cheap gas
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JagXKR
Champion Author British Columbia

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Message Posted: Oct 23, 2012 11:03:39 PM

Eventually Michigan will harvest that resource and they will benifit from the gas.
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Cellsite
Champion Author Appleton

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Message Posted: Oct 23, 2012 10:58:53 PM

So, until it costs a fortune to heat our homes, Michigan can't cash in on it's NG reserves.
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Godozo
Champion Author Gary

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Message Posted: Oct 23, 2012 10:58:19 PM

Can think of two possible outcomes:

1) It comes out later, which means that Michigan will get a Natural Gas Boom after the other states, or

2) It doesn't come out, which means the nation busted (or was so petty that it decided it'd rather go into the stone age instead of give Michigan another red cent).
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PissedATthePump
All-Star Author Pennsylvania

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Message Posted: Oct 23, 2012 10:56:50 PM

Collusion between energy companies?!? They would never do anything unethical like that! Say it ain't so.
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saleboss
Champion Author Phoenix

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Message Posted: Oct 23, 2012 10:55:06 PM

From what I've read natural gas will be around longer than oil, so the boom for gas isn't done yet!
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