GasBuddy Blog

GasBuddy News Article

votes

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...

Read the Full Article

Submitted Oct 23, 2012 By: NOTSOGRN

Back To News

Category: Daily News Article Discussions > Topics	Add to favorite topics

Author	Topic: Interest in Michigan natural gas drops as focus shifts to oil	Post a Reply Back to Topics

REPLIES (newest first)Ignore Short Messages

First

Next Last

tomok Champion Author Portland Posts:33,600 Points:2,373,210 Joined:Aug 2006	Message Posted: Oct 24, 2012 4:09:29 AM Ignore tomok Report Abuse 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!
jmaustin80 Sophomore Author Alaska Posts:159 Points:189,875 Joined:Mar 2012	Message Posted: Oct 24, 2012 2:05:40 AM Ignore jmaustin80 Report Abuse I dought they'll ever match the power/torque that we get with regular gas
Dodge_Me Champion Author Atlanta Posts:2,214 Points:576,480 Joined:Mar 2006	Message Posted: Oct 23, 2012 11:56:59 PM Ignore Dodge_Me Report Abuse Okay
boatfloyd Champion Author Jacksonville Posts:1,863 Points:416,650 Joined:Mar 2012	Message Posted: Oct 23, 2012 11:51:16 PM Ignore boatfloyd Report Abuse Wall-Street has made allot of money on the Natural Gas :).
Zonk Champion Author Michigan Posts:6,626 Points:2,130,690 Joined:Oct 2005	Message Posted: Oct 23, 2012 11:39:39 PM Ignore Zonk Report Abuse Not today, but some day.
Tsunamiron Champion Author Jacksonville Posts:1,574 Points:586,500 Joined:Mar 2011	Message Posted: Oct 23, 2012 11:38:01 PM Ignore Tsunamiron Report Abuse Save the gas to heat our homes in the winter instead.
jcdakota Champion Author Baltimore Posts:1,432 Points:378,320 Joined:Nov 2010	Message Posted: Oct 23, 2012 11:37:37 PM Ignore jcdakota Report Abuse No big oil investment if they can't gouge the consumer!!!!!
jetskijerry Champion Author North Carolina Posts:4,041 Points:800,945 Joined:Mar 2011	Message Posted: Oct 23, 2012 11:37:09 PM Ignore jetskijerry Report Abuse Collusion is the word...
rattlewagon Rookie Author Arizona Posts:99 Points:71,590 Joined:Apr 2011	Message Posted: Oct 23, 2012 11:34:28 PM Ignore rattlewagon Report Abuse Guess the oil companies decided to keep their natural gas and tell everyone to frack off...
shores4now Champion Author Kentucky Posts:2,549 Points:551,500 Joined:Jul 2009	Message Posted: Oct 23, 2012 11:34:16 PM Ignore shores4now Report Abuse Ok
mfeldstein Champion Author Ottawa Posts:8,306 Points:1,957,205 Joined:Feb 2007	Message Posted: Oct 23, 2012 11:30:49 PM Ignore mfeldstein Report Abuse Too bad; arrived at the game a little late.
fredtheturd Sophomore Author Kansas Posts:201 Points:430,825 Joined:May 2011	Message Posted: Oct 23, 2012 11:29:03 PM Ignore fredtheturd Report Abuse We're still going to need that gas eventually...
Hunter724 Champion Author New Hampshire Posts:8,257 Points:1,673,550 Joined:Sep 2008	Message Posted: Oct 23, 2012 11:28:30 PM Ignore Hunter724 Report Abuse Old news...
pastorpaulcg Champion Author Virginia Posts:3,615 Points:775,785 Joined:Dec 2010	Message Posted: Oct 23, 2012 11:28:07 PM Ignore pastorpaulcg Report Abuse Okay
mrbee Champion Author Little Rock Posts:3,898 Points:2,494,285 Joined:Oct 2005	Message Posted: Oct 23, 2012 11:28:03 PM Ignore mrbee Report Abuse When the price goes up, they will be more interested.
teamsimons Champion Author South Carolina Posts:2,576 Points:525,955 Joined:Aug 2011	Message Posted: Oct 23, 2012 11:27:12 PM Ignore teamsimons Report Abuse We commented on this article a day or two ago also...
olympusman2004 Champion Author Maryland Posts:1,803 Points:397,055 Joined:Apr 2012	Message Posted: Oct 23, 2012 11:26:51 PM Ignore olympusman2004 Report Abuse we need energy independence so go for it
tedjm1 Champion Author New York Posts:5,609 Points:800,300 Joined:Dec 2006	Message Posted: Oct 23, 2012 11:26:42 PM Ignore tedjm1 Report Abuse 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.
Dsin44 Champion Author Abbotsford Posts:1,275 Points:276,195 Joined:Apr 2011	Message Posted: Oct 23, 2012 11:25:51 PM Ignore Dsin44 Report Abuse price of natural gas is to cheap at the moment.. wait till the prices rise
10k Champion Author North Carolina Posts:21,494 Points:2,282,695 Joined:May 2006	Message Posted: Oct 23, 2012 11:25:35 PM Ignore 10k Report Abuse DHAN, and get rid of nobama..
Jmac2008 Champion Author Missouri Posts:2,416 Points:908,840 Joined:Dec 2008	Message Posted: Oct 23, 2012 11:25:04 PM Ignore Jmac2008 Report Abuse ok
granitestater Champion Author New Hampshire Posts:8,987 Points:1,459,425 Joined:Oct 2008	Message Posted: Oct 23, 2012 11:24:41 PM Ignore granitestater Report Abuse Competition spurs price drops...
gaspumpin Champion Author Indiana Posts:1,792 Points:415,820 Joined:Apr 2012	Message Posted: Oct 23, 2012 11:23:44 PM Ignore gaspumpin Report Abuse Focus will shift back to natural gas as the price of gas goes up.
Badjef Champion Author Florida Posts:4,188 Points:845,540 Joined:Jan 2011	Message Posted: Oct 23, 2012 11:22:48 PM Ignore Badjef Report Abuse I'd rather use rat urine.
souly Champion Author Montreal Posts:1,909 Points:460,070 Joined:Jun 2010	Message Posted: Oct 23, 2012 11:22:17 PM Ignore souly Report Abuse thanks for the post
bvrbill Champion Author Eugene Posts:3,445 Points:546,325 Joined:Jul 2011	Message Posted: Oct 23, 2012 11:21:29 PM Ignore bvrbill Report Abuse Oil or Nat Gas. It's good to have options.
Bigwaynef Champion Author South Carolina Posts:11,681 Points:2,109,410 Joined:Dec 2006	Message Posted: Oct 23, 2012 11:21:26 PM Ignore Bigwaynef Report Abuse Obummer says it's not natural...
crreed1 Champion Author West Virginia Posts:2,105 Points:2,551,690 Joined:May 2005	Message Posted: Oct 23, 2012 11:20:27 PM Ignore crreed1 Report Abuse price will raise & they will be back
BobD2009 Champion Author Long Island Posts:7,134 Points:1,268,460 Joined:Apr 2009	Message Posted: Oct 23, 2012 11:19:56 PM Ignore BobD2009 Report Abuse Drill baby drill, energy independence!
rawdog1313 Champion Author Lexington Posts:3,444 Points:1,671,480 Joined:May 2008	Message Posted: Oct 23, 2012 11:17:00 PM Ignore rawdog1313 Report Abuse Whatever helps getting us to Energy independence, I'm all for it!
madison8359 Champion Author Cleveland Posts:9,331 Points:1,620,995 Joined:Apr 2008	Message Posted: Oct 23, 2012 11:15:42 PM Ignore madison8359 Report Abuse NG is the future it is clean, domestic and cheap.
rahcat Champion Author Grand Rapids Posts:2,700 Points:690,875 Joined:Jan 2010	Message Posted: Oct 23, 2012 11:15:39 PM Ignore rahcat Report Abuse Michigan should just bide it's time.
PrinceLH Champion Author Ontario Posts:2,832 Points:565,745 Joined:Jun 2011	Message Posted: Oct 23, 2012 11:14:56 PM Ignore PrinceLH Report Abuse They'll get their turn.
Glock26 Champion Author Dayton Posts:1,654 Points:658,135 Joined:Mar 2011	Message Posted: Oct 23, 2012 11:14:43 PM Ignore Glock26 Report Abuse O.K.
WVUtailgater Champion Author Cleveland Posts:8,576 Points:1,726,385 Joined:Aug 2008	Message Posted: Oct 23, 2012 11:13:51 PM Ignore WVUtailgater Report Abuse it will all happen in time
DABEE1073 Champion Author San Diego Posts:8,355 Points:1,600,785 Joined:Jun 2008	Message Posted: Oct 23, 2012 11:13:40 PM Ignore DABEE1073 Report Abuse IT WILL ALWAYS BE THERE FOR THE FUTURE.
jrschl Champion Author Louisville Posts:3,107 Points:708,765 Joined:Jun 2011	Message Posted: Oct 23, 2012 11:13:15 PM Ignore jrschl Report Abuse Flip-Flopping.
defiancegasman Champion Author Ohio Posts:7,099 Points:1,327,520 Joined:May 2006	Message Posted: Oct 23, 2012 11:12:00 PM Ignore defiancegasman Report Abuse It will BE BACK!
a14morfun Champion Author Ontario Posts:11,963 Points:2,101,015 Joined:Jul 2005	Message Posted: Oct 23, 2012 11:10:49 PM Ignore a14morfun Report Abuse bummer for Mich
suicyco16 All-Star Author Phoenix Posts:599 Points:311,585 Joined:Jun 2012	Message Posted: Oct 23, 2012 11:10:35 PM Ignore suicyco16 Report Abuse Well that stinks.
Ray_10589 Champion Author New York Posts:5,086 Points:1,211,435 Joined:May 2009	Message Posted: Oct 23, 2012 11:10:01 PM Ignore Ray_10589 Report Abuse Natural gas is good ...
Blue_Cruzer Champion Author Lexington Posts:7,660 Points:1,697,285 Joined:Mar 2007	Message Posted: Oct 23, 2012 11:08:38 PM Ignore Blue_Cruzer Report Abuse Interesting.
bridgerunner Champion Author Virginia Posts:4,927 Points:1,034,535 Joined:Jul 2009	Message Posted: Oct 23, 2012 11:08:14 PM Ignore bridgerunner Report Abuse It is like a bank account.
Ticoman54 Champion Author Miami Posts:7,156 Points:1,517,620 Joined:Oct 2008	Message Posted: Oct 23, 2012 11:06:09 PM Ignore Ticoman54 Report Abuse Time will only tell what the future will bring.
obimerrill Champion Author Cincinnati Posts:1,585 Points:318,390 Joined:Jul 2012	Message Posted: Oct 23, 2012 11:05:22 PM Ignore obimerrill Report Abuse It may come to Michigan eventually, but only if government doesn't get in the way.
southrob Champion Author Tucson Posts:3,741 Points:715,875 Joined:Mar 2011	Message Posted: Oct 23, 2012 11:04:45 PM Ignore southrob Report Abuse dhan for cheap gas
JagXKR Champion Author British Columbia Posts:3,298 Points:1,118,890 Joined:Dec 2009	Message Posted: Oct 23, 2012 11:03:39 PM Ignore JagXKR Report Abuse Eventually Michigan will harvest that resource and they will benifit from the gas.
Cellsite Champion Author Appleton Posts:1,326 Points:312,135 Joined:Jun 2012	Message Posted: Oct 23, 2012 10:58:53 PM Ignore Cellsite Report Abuse So, until it costs a fortune to heat our homes, Michigan can't cash in on it's NG reserves.
Godozo All-Star Author Gary Posts:723 Points:582,340 Joined:Dec 2010	Message Posted: Oct 23, 2012 10:58:19 PM Ignore Godozo Report Abuse 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).
PissedATthePump All-Star Author Pennsylvania Posts:507 Points:119,580 Joined:May 2012	Message Posted: Oct 23, 2012 10:56:50 PM Ignore PissedATthePump Report Abuse Collusion between energy companies?!? They would never do anything unethical like that! Say it ain't so.