GECF is the Gas Exporting Countries Forum, fifteen gas-producing countries that first met in Iran in 2001. These countries control 73% of the world's natural gas reserves and 41% of production.
Natural gas provides 20% of the US electricity and heats more than half our homes. Until fairly recently we have been able to supply just about all our needs from US wells. Now, we get 13% from Canada and 4% from other countries, including Qatar. Since 2002 we have doubled the rigs drilling for natural gas here, but production has been flat. So, it looks as though we will soon be importing more of our natural gas than we have had to do. As importers, we will be joining Japan, South Korea and Europe in depending more and more on foreign countries to meet our needs.
The five foreign countries that have the most proven reserves are Qatar, Iran, UAE (remember Dubai?), Saudi Arabia and Russia. Our proven reserves rank thirteenth in the world. What are the future political and economic implications of importing more oil and more natural gas?
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