Will the gas (and oil) boom in the eastern counties of Ohio go bust in the short term?
There's still a lot we don't know about the impact of the gas (and oil) boom in the eastern Counties of Ohio. Here's what we know 1. Land is being leased up 2. Wells are being drilled 3. Public officials are beginning to think about the social impacts of new industry in the gas counties.
Here's what we think 1. Rents are going up! 2. Households are being displaced
Here's what we're not sure about 1. Which Counties have what resources? 2. What are the measurable impacts on local residents? 3. Gas reserves are high and gas prices are low...will the 'boom' be sustaniable over the near term or will drilling operations be mothballed until prices rise and reserves fall?
Now, there's a newer report
(Mid April 2012) that the underground storage facilities for unsold gas
may be full by the end of this year. Low commodity price of natural
gas has prompted producers to store their product rather than bring it
to market. (seeking attribution)