...just when conventional gas was showing signs of being on the last dregs.
When I see this, I find it quite amuzing.
Good friend of mine owns/manages a natural gas producing company in Tulsa, and according to him (and T. Boone Pickens, no less) the USA has a 120 year supply, and more is being found every day...so much in fact, that natural gas prices in the USA are the lowest....ever.
The general public has so many misconceptions about oil/gas supplies, it beggers belief.
Oil.
In the Rhub alKhali (empty quarter) of Saudi Arabia, there exists proven oil/gas reserves that are at
least seven times (not counting secondary recovery, which often times doubles the quantity) the proven reserves of the very large find (in 1938 by Chevron/Texaco) at Dhahran...the alHassa basin, which, for all practical purposes extends up to/including Kuwait.
The world is awash in crude/gas, some more expensive that others, nevertheless, there is plenty to go around for quite a looooong time.
And yes, I used to fly the exec air transport for a very large oil company, and still have many friends in the industry....who know the score.