You need to lookup the hyperbolic decline curves for United States shale gas plays. With these 'unconventional' plays, the production is front-loaded. For inst

You need to lookup the hyperbolic decline curves for United States shale gas plays. With these 'unconventional' plays, the production is front-loaded. For instance, many Haynesville shale natural gas wells will produce as much gas in their first 6 months of life as they will over the next 20 years. The same goes for the Bakken tight-oil play in Montana. The 'rate of extraction' in unconventional oil and gas plays is extremely front-loaded. Which is why you see such large location basis price differential around these plays. In other words, the United States is producing so much natural gas that we're running out of pipelines, storage facilities, and power plants to consume it all. There is so much natural gas in the United States that the US should be a net energy exporter. However, the federal government has not approved a single permit for a natgas export terminals in over 40 years. Import terminals get approval on a regular basis, however. Meanwhile, we're complaining about our dependence on foreign oil and subsidizing windmills. Genius.