House & Home
House and Home
House and Home 
Mon, June 21, 2010
According to Topaz Resources, Natural Gas Is Key to Reducing U.S. Dependence on Oil
DENTON, TX--(Marketwire - June 21, 2010) - Topaz Resources, Inc. (
In early June, natural gas prices and stocks got a lift off their depressed levels when U.S. President Barack Obama made a Pittsburgh speech in which he declared: "the time has come... to fully embrace a clean energy future... [it] means tapping into our natural gas reserves..."
Why natural gas now? It is cleaner than the other fossil fuels. It generates 30 percent less carbon dioxide than oil and 40 percent less than coal. And, of course, it can be brought on stream quickly compared to wind, solar, and even nuclear power.
Furthermore, innovations in extraction technologies, notably hydraulic fracturing and horizontal drilling, have made many more deposits of natural gas accessible. Along with ongoing expansion in the transportation infrastructure for liquefied natural gas, this has resulted in a much more abundant and cheaper fuel source. Indeed, estimates of U.S. gas reserves have skyrocketed because of the new drilling methods.
Energy experts on the Potential Gas Committee declared in June, 2009, that recoverable U.S. gas reserves stood at 2,000 trillion cubic feet in 2008, a record jump of 34 percent. "That's enough natural gas to power [the U.S.] through the 21st century," said
Mr. Pickens -- formerly an advocate of wind power.
A more recent report in February by J.P. Morgan Securities Inc. concludes North America has 8,000 trillion cubic feet, four times more than the committee's calculation. If the committee's estimate meant U.S. needs were met for a century, then J.P Morgan's estimate implies U.S. needs are covered for several centuries. With natural gas so plentiful and inexpensive, Mr. Pickens also sees it as the solution to the age-old problem of weaning the U.S. off its dependence on foreign oil. Moreover, if the U.S. were to ramp up drilling, building of pipelines and conversion of power plants and vehicles to natural gas, it would be a major generator of the jobs so desperately needed at this time.
About Topaz Resources
Topaz Resources is an independent oil and gas company focusing on production, acquisitions and developmental drilling opportunities within proven producing areas of north, central and west Texas.
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements" as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of our exploration program at our properties and any anticipated future production. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with petroleum exploration and development stage exploration companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.