The Search Continues

The unfortunate impression left by the shortages of gas in the 1970's is that there is little gas left to be discovered. On the contrary, the gas resource base is vast, and probably even larger than currently estimated. Natural gas is not a renewable resource. Many people carry the misconception that there is a very limited amount of natural gas, and that we may use all of it up. This isn't true. The gas shortages of the 1970's were prompted by the government's lack of faith in the industry's ability to discover and develop new reserves, not by the lack of a gas supply. People are often confused by the difference in "proved reserves," those that could be economically produced with the current technology, and the total natural gas resource base.

While the estimation of undiscovered resources is certainly a more imprecise endeavor than is the estimation of proved reserves, it is clear that substantial volumes of technically recoverable oil and gas resources remain to be found and produced domestically. Current estimates indicate that as much domestic gas remains to be found and then produced--as has been produced to date. Of course, much effort, investment and time will be required to bring this gas to market. MIEKA intends to be on the forefront of developing their resources...

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