Economics … or politics?

TU’s new President and CEO Chris Wood notes in a guest opinion in today’s Denver Post that much of the grousing going on in the oil and gas industry is misdirected, thanks largely to a glut of natural gas on the North American market. The economics of supply and demand–not revamped leasing and drilling procedures put in place by Secretary of Interior Ken Salazar–are to blame for the slow-down in natural gas production in the West.

Nevertheless, industry mouthpieces continue to badmouth the Secretary, for reasons that, given the economic realities, might just be political. That’s unfortunate–the facts just don’t back up claims that refreshed procedures for seeking out and extracting natural gas from beneath public lands are the government’s fault.

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