U.S. Energy Secretary: Nat. Gas Reserves May Have Doubled

U.S. natural gas reserves may have doubled thanks to new drilling technologies, U.S. Energy Secretary Steven Chu said Tuesday.

U.S. natural gas reserves have definitely gone up by about 30 percent and "probably has doubled," Chu said in a keynote speech at a conference in Washington co-hosted by the U.S. Energy Information Administration (EIA) and Johns Hopkins University.

Proved reserves of U.S. natural gas were 244.7 trillion cubic feet at the end of 2008, according to the EIA.

"That's a big deal because gas will be a transition fuel as we go to renewables," Chu said. The reserves of natural gas that can be recovered from shale deposits using a drilling technique called hydraulic fracturing is "yet to be proven," Chu said.

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