On October 28, 2010 natural gas industry colleagues and friends met at the University Club for the Natural Gas Roundtable in Washington, DC. The event’s keynote speaker, Richard Newell, administrator of the U.S. Energy Information Administration (EIA), discussed the role of expanding resources in future energy policy.
Newell explained that as technology allows developers to tap gas trapped in shale formations around the country, natural gas prices should remain consistent. EIA anticipates an increase in the natural gas resource base, which can have an impact on prices in the downward direction and on production in the upward direction.
Newell did not provide any more details on the upcoming projections, to be included in EIA’s annual energy outlook in December with projections through 2035. However, the forecast will consider the two areas of dynamic change: short term outlook and view on the long term. In terms of the exact impact of the changes, we’ll have to see once it’s pulled together in an integrated outlook.