The McKeesport Natural Gas Boom, 1919-1921
Muller, Nicholas Z.
The McKeesport Natural Gas Boom, 1919-1921 - 2020.
47
This article explores a short-lived but major natural gas boom in the area of McKeesport, Pennsylvania. The discovery and exploitation of natural gas resources often displays a boom and bust cycle characterized by a rush of investment and production followed by resource exhaustion and falling prices. The McKeesport boom was especially noteworthy not only because of the copious production of the initial big well but also because the field was quite short-lived due to the closeness of the drilling and herd behavior of the drillers. Drillers and investors disregarded expert warnings about the limits of the resource. An enduring legacy of the McKeesport boom was a long-term environmental hazard of orphan wells. The lessons of this analysis of the McKeesport boom may provide guidance for current environmental regulators facing the promises of promoters of unlimited natural gas resources.
The McKeesport Natural Gas Boom, 1919-1921 - 2020.
47
This article explores a short-lived but major natural gas boom in the area of McKeesport, Pennsylvania. The discovery and exploitation of natural gas resources often displays a boom and bust cycle characterized by a rush of investment and production followed by resource exhaustion and falling prices. The McKeesport boom was especially noteworthy not only because of the copious production of the initial big well but also because the field was quite short-lived due to the closeness of the drilling and herd behavior of the drillers. Drillers and investors disregarded expert warnings about the limits of the resource. An enduring legacy of the McKeesport boom was a long-term environmental hazard of orphan wells. The lessons of this analysis of the McKeesport boom may provide guidance for current environmental regulators facing the promises of promoters of unlimited natural gas resources.
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