Conventional natural gas peaked in the US and Canada near 2000
http://water.epa.gov/type/groundwater/uic/class2/hydraulicfracturing/index.cfm~~ snip ~~
Natural gas production in the U.S. reached its peak in 1973, and went over a secondary, but lower peak, in 2001. This was also the date for North American peak production of natural gas. Production, both in the U.S. and Canada, is now in terminal decline. United States imports about 17% if its natural gas; 14% from Canada (which is one half of Canada's production) and 3% as liquefied natural gas, mainly from Trinidad.
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The depletion rates for natural gas in the U.S. are larger than for oil. Fields put into production in 1990 were down 17% after the first year, those put into production today deplete more than 30% during their first year of operation.
Natural gas consumption in the U.S. divides in the various sectors of the economy in the following way. Industrial use is 33%, electricity production accounts for 31%, residential demand is 22%, and the commercial sector uses 14%. The total consumption is 20 trillion cubic feet a year. Owing to the high prices of natural gas over the last ten years, industrial demand has dropped 22% during this period. The chemical industry has been particularly vulnerable and of the 80 new chemical plants being planned in the world today, none will be built in the U.S.
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Conventional natural gas production for all of North America peaked in 2001. The new study commissioned by National Petroleum Council in 2002 confirmed this peak. Though fracking had been around prior to this time, it was not widely used, for later to become obvious, reasons. Suddenly, it was being called a 'new' technology. Its wide spread use started just after the natural gas markets went from $3 to $10 per thousand cu/ft between April and December of 2000.
Though I have never seen it stated, through inference of the facts, it is fair to conclude that the fracking technology is being used for extended supply of North American natural gas in lieu of other more expensive solutions.
IMHO, this relation of supply vs the economic dependence upon natural gas for industrial use, electricity, and residential demand for heating, needs to be included in any discussion of future regulation of natural gas exploitation.
In juxtaposition to fracking is another limited but required resource, potable water. There is not an obvious solution to this dilemma, the two are not compatible. The political, economic, and environmental tug of war is just beginning, with no winners likely.