By now, most people know that natural gas drilling rigs are more dangerous than those of the past.
But it turns out there’s another problem: They’re being built.
And according to new research, it could be the result of something called “overproduction” of natural gas.
The natural gas industry says it has been cutting its drilling rig count by nearly 60 percent in recent years.
And while there’s still plenty of oil and gas on the ground, the industry says its natural gas is becoming more expensive to produce.
And now the industry is trying to figure out what’s going on.
A new study released Tuesday by the Natural Resources Defense Council says that if the industry were to dramatically ramp up its drilling in an effort to keep up with demand, it would be producing enough natural gas to fuel more than a quarter of the world’s electricity, with an additional 30 percent of that supply going to countries in Africa and Asia.
In an industry-sponsored report released Tuesday, NRDC’s Andrew Wheeler argued that a recent downturn in oil prices could have made it more difficult for the industry to keep pace with the demand for natural gas, and that it could have led to a sharp decline in demand for conventional oil and natural gas — even if the demand did not necessarily fall off.
He argued that the current slump in oil and other energy demand is due in part to the shale boom in the United States.
That’s because the U.S. is now producing nearly as much oil as it was in 2006, when it was producing roughly the same amount of natural oil and coal.
The shale boom, Wheeler argues, “has driven down oil prices to near zero,” and is the reason the world is in an economic crisis.
The report says that the decline in natural gas demand has been driven in part by the boom in shale gas production, which has led to “a sudden spike in demand.”
That has made it “more expensive to drill and more expensive for natural-gas producers to produce” natural gas as well, the report says.
The study also says that increased production of natural-gases, coupled with the fact that oil and/or coal are no longer “competitively priced,” has caused a dramatic increase in demand.
And that, in turn, has created “a glut of gas” in the U., Wheeler says.
What the NRDC report is saying is that the shale gas boom in recent decades, in addition to pushing up prices for oil and oil products, has caused an increase in natural- gas production.
And this glut of natural gases in the world, along with the lack of price stability for natural fuels, has led people to buy less natural gas and to move to other fuels.
The Natural Resources Defence Council has long argued that fracking can cause climate change, which could have an impact on climate change.
And Wheeler’s study suggests that that effect could be amplified by the fact the boom is going on right now, and has already started.
According to the NRCC’s Wheeler, if the oil and energy industry were not to ramp up their drilling and production, the world could end up with the equivalent of 30 percent less natural- gases and 30 percent more oil.
But, Wheeler said, “the problem with the industry argument is it’s not true.”