Natural Gas In The 1970's

Natural gas is not a renewable resource, since there is a fixed amount of it trapped in the Earth. However, many people think that there is a small amount of natural gas and that we may use it all up. This is not true. There was said to be a gas shortage in the 1970’s so prices of oil skyrocketed from three dollars a barrel to twelve dollars a barrel. In reality, this was an excuse prompted by the government's lack of faith in the industry's ability to discover and develop new reserves, and not by lack of gas supply. The disastrous impression left by the “shortages of gas” in the 1970's is that there is little gas left to be discovered and will soon run out . However, in reality, the gas resource base is massive, and probably even larger than

There are two theories as to the cause to the soaring gas prices. The newspaper articles and the press seem to be connecting the problems to the Organization of Petroleum Exporting Countries (OPEC) cutting its crude oil production by roughly 8 percent last spring. This statement is true but there is good reason behind OPEC's decision to decrease production. This reason ties into the second opinion as to the cause of rising gas prices. The thinking is the slowing in production that is directly connected to the changing industry and technological

Reason being, close to home, in South Dakota there are massive oil fields and finally the United States is making use of them! In result, we are not buying from foreign parties and paying crazy high taxes to have it brought here and refined for our use. Over the course of the last few months, gasoline has dropped about a dollar and thirty cents; diesel too, has dropped substantially in result from people buying more gasoline.

Another positive from the oil fields are an increase in steady income employment; about $75,000 to $80,000 a year with training available on site. However, these jobs are very competitive and is hard to get employed now. The devastating truth is that one day we will indeed run out of oil and we will have no choice but to search for a new resource to run our vehicles and tools on. Tests and trial runs on hydrogen fuel cells are in question for a reliable method to replacing