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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...

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Submitted Oct 23, 2012 By: NOTSOGRN

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tomok Champion Author Portland Posts:32,936 Points:2,342,585 Joined:Aug 2006	Message Posted: Oct 24, 2012 5:09:29 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 3:05:40 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:553,980 Joined:Mar 2006	Message Posted: Oct 24, 2012 12:56:59 AM Ignore Dodge_Me Report Abuse Okay
boatfloyd Champion Author Jacksonville Posts:1,708 Points:386,025 Joined:Mar 2012	Message Posted: Oct 24, 2012 12:51:16 AM Ignore boatfloyd Report Abuse Wall-Street has made allot of money on the Natural Gas :).
Zonk Champion Author Michigan Posts:6,471 Points:2,100,065 Joined:Oct 2005	Message Posted: Oct 24, 2012 12:39:39 AM Ignore Zonk Report Abuse Not today, but some day.
Tsunamiron Champion Author Jacksonville Posts:1,414 Points:554,800 Joined:Mar 2011	Message Posted: Oct 24, 2012 12:38:01 AM Ignore Tsunamiron Report Abuse Save the gas to heat our homes in the winter instead.
jcdakota Champion Author Baltimore Posts:1,347 Points:361,345 Joined:Nov 2010	Message Posted: Oct 24, 2012 12:37:37 AM Ignore jcdakota Report Abuse No big oil investment if they can't gouge the consumer!!!!!
jetskijerry Champion Author North Carolina Posts:3,886 Points:770,320 Joined:Mar 2011	Message Posted: Oct 24, 2012 12:37:09 AM Ignore jetskijerry Report Abuse Collusion is the word...
rattlewagon Rookie Author Arizona Posts:99 Points:71,590 Joined:Apr 2011	Message Posted: Oct 24, 2012 12:34:28 AM 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:2,396 Points:521,850 Joined:Jul 2009	Message Posted: Oct 24, 2012 12:34:16 AM Ignore shores4now Report Abuse Ok
mfeldstein Champion Author Ottawa Posts:8,161 Points:1,928,430 Joined:Feb 2007	Message Posted: Oct 24, 2012 12:30:49 AM Ignore mfeldstein Report Abuse Too bad; arrived at the game a little late.
fredtheturd Sophomore Author Kansas Posts:201 Points:427,825 Joined:May 2011	Message Posted: Oct 24, 2012 12:29:03 AM Ignore fredtheturd Report Abuse We're still going to need that gas eventually...
Hunter724 Champion Author New Hampshire Posts:8,106 Points:1,643,150 Joined:Sep 2008	Message Posted: Oct 24, 2012 12:28:30 AM Ignore Hunter724 Report Abuse Old news...
pastorpaulcg Champion Author Virginia Posts:3,615 Points:775,785 Joined:Dec 2010	Message Posted: Oct 24, 2012 12:28:07 AM Ignore pastorpaulcg Report Abuse Okay
mrbee Champion Author Little Rock Posts:3,743 Points:2,463,660 Joined:Oct 2005	Message Posted: Oct 24, 2012 12:28:03 AM Ignore mrbee Report Abuse When the price goes up, they will be more interested.
teamsimons Champion Author South Carolina Posts:2,463 Points:499,420 Joined:Aug 2011	Message Posted: Oct 24, 2012 12:27:12 AM Ignore teamsimons Report Abuse We commented on this article a day or two ago also...
olympusman2004 Champion Author Maryland Posts:1,661 Points:366,755 Joined:Apr 2012	Message Posted: Oct 24, 2012 12:26:51 AM 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 24, 2012 12:26:42 AM 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:1,272 Points:272,660 Joined:Apr 2011	Message Posted: Oct 24, 2012 12:25:51 AM 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:21,231 Points:2,252,070 Joined:May 2006	Message Posted: Oct 24, 2012 12:25:35 AM Ignore 10k Report Abuse DHAN, and get rid of nobama..
Jmac2008 Champion Author Missouri Posts:2,259 Points:878,215 Joined:Dec 2008	Message Posted: Oct 24, 2012 12:25:04 AM Ignore Jmac2008 Report Abuse ok
granitestater Champion Author New Hampshire Posts:8,812 Points:1,428,800 Joined:Oct 2008	Message Posted: Oct 24, 2012 12:24:41 AM Ignore granitestater Report Abuse Competition spurs price drops...
gaspumpin Champion Author Indiana Posts:1,655 Points:386,430 Joined:Apr 2012	Message Posted: Oct 24, 2012 12:23:44 AM Ignore gaspumpin Report Abuse Focus will shift back to natural gas as the price of gas goes up.
Badjef Champion Author Florida Posts:4,030 Points:814,915 Joined:Jan 2011	Message Posted: Oct 24, 2012 12:22:48 AM Ignore Badjef Report Abuse I'd rather use rat urine.
souly Champion Author Montreal Posts:1,750 Points:429,445 Joined:Jun 2010	Message Posted: Oct 24, 2012 12:22:17 AM Ignore souly Report Abuse thanks for the post
bvrbill Champion Author Eugene Posts:3,199 Points:515,825 Joined:Jul 2011	Message Posted: Oct 24, 2012 12:21:29 AM Ignore bvrbill Report Abuse Oil or Nat Gas. It's good to have options.
Bigwaynef Champion Author South Carolina Posts:11,458 Points:2,078,810 Joined:Dec 2006	Message Posted: Oct 24, 2012 12:21:26 AM Ignore Bigwaynef Report Abuse Obummer says it's not natural...
crreed1 Champion Author West Virginia Posts:1,975 Points:2,524,385 Joined:May 2005	Message Posted: Oct 24, 2012 12:20:27 AM Ignore crreed1 Report Abuse price will raise & they will be back
BobD2009 Champion Author Long Island Posts:6,979 Points:1,237,835 Joined:Apr 2009	Message Posted: Oct 24, 2012 12:19:56 AM Ignore BobD2009 Report Abuse Drill baby drill, energy independence!
rawdog1313 Champion Author Lexington Posts:3,294 Points:1,640,955 Joined:May 2008	Message Posted: Oct 24, 2012 12:17:00 AM Ignore rawdog1313 Report Abuse Whatever helps getting us to Energy independence, I'm all for it!
madison8359 Champion Author Cleveland Posts:8,995 Points:1,590,370 Joined:Apr 2008	Message Posted: Oct 24, 2012 12:15:42 AM Ignore madison8359 Report Abuse NG is the future it is clean, domestic and cheap.
rahcat Champion Author Grand Rapids Posts:2,458 Points:660,250 Joined:Jan 2010	Message Posted: Oct 24, 2012 12:15:39 AM Ignore rahcat Report Abuse Michigan should just bide it's time.
PrinceLH Champion Author Ontario Posts:2,682 Points:536,095 Joined:Jun 2011	Message Posted: Oct 24, 2012 12:14:56 AM Ignore PrinceLH Report Abuse They'll get their turn.
Glock26 Champion Author Dayton Posts:1,514 Points:630,435 Joined:Mar 2011	Message Posted: Oct 24, 2012 12:14:43 AM Ignore Glock26 Report Abuse O.K.
WVUtailgater Champion Author Cleveland Posts:8,421 Points:1,695,760 Joined:Aug 2008	Message Posted: Oct 24, 2012 12:13:51 AM Ignore WVUtailgater Report Abuse it will all happen in time
DABEE1073 Champion Author San Diego Posts:8,195 Points:1,570,385 Joined:Jun 2008	Message Posted: Oct 24, 2012 12:13:40 AM Ignore DABEE1073 Report Abuse IT WILL ALWAYS BE THERE FOR THE FUTURE.
jrschl Champion Author Louisville Posts:2,952 Points:678,140 Joined:Jun 2011	Message Posted: Oct 24, 2012 12:13:15 AM Ignore jrschl Report Abuse Flip-Flopping.
defiancegasman Champion Author Ohio Posts:7,080 Points:1,323,260 Joined:May 2006	Message Posted: Oct 24, 2012 12:12:00 AM Ignore defiancegasman Report Abuse It will BE BACK!
a14morfun Champion Author Ontario Posts:11,775 Points:2,073,315 Joined:Jul 2005	Message Posted: Oct 24, 2012 12:10:49 AM Ignore a14morfun Report Abuse bummer for Mich
suicyco16 All-Star Author Phoenix Posts:576 Points:285,125 Joined:Jun 2012	Message Posted: Oct 24, 2012 12:10:35 AM Ignore suicyco16 Report Abuse Well that stinks.
Ray_10589 Champion Author New York Posts:4,931 Points:1,180,060 Joined:May 2009	Message Posted: Oct 24, 2012 12:10:01 AM Ignore Ray_10589 Report Abuse Natural gas is good ...
Blue_Cruzer Champion Author Lexington Posts:7,505 Points:1,666,660 Joined:Mar 2007	Message Posted: Oct 24, 2012 12:08:38 AM Ignore Blue_Cruzer Report Abuse Interesting.
bridgerunner Champion Author Virginia Posts:4,772 Points:1,003,910 Joined:Jul 2009	Message Posted: Oct 24, 2012 12:08:14 AM Ignore bridgerunner Report Abuse It is like a bank account.
Ticoman54 Champion Author Miami Posts:7,031 Points:1,489,095 Joined:Oct 2008	Message Posted: Oct 24, 2012 12:06:09 AM Ignore Ticoman54 Report Abuse Time will only tell what the future will bring.
obimerrill Champion Author Cincinnati Posts:1,430 Points:287,765 Joined:Jul 2012	Message Posted: Oct 24, 2012 12:05:22 AM 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:3,590 Points:686,225 Joined:Mar 2011	Message Posted: Oct 24, 2012 12:04:45 AM Ignore southrob Report Abuse dhan for cheap gas
JagXKR Champion Author British Columbia Posts:3,144 Points:1,088,605 Joined:Dec 2009	Message Posted: Oct 24, 2012 12:03:39 AM Ignore JagXKR Report Abuse Eventually Michigan will harvest that resource and they will benifit from the gas.
Cellsite Champion Author Appleton Posts:1,223 Points:284,375 Joined:Jun 2012	Message Posted: Oct 23, 2012 11:58:53 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:656 Points:555,765 Joined:Dec 2010	Message Posted: Oct 23, 2012 11:58:19 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 11:56:50 PM Ignore PissedATthePump Report Abuse Collusion between energy companies?!? They would never do anything unethical like that! Say it ain't so.