Last year, domestic natural gas production averaged 69 billion cubic feet per day, a record, and a 33% increase over the levels achieved back in 2005. That year, Lee Raymond, the famously combative former CEO of ExxonMobil, declared that “gas production has peaked in North America.”
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He may be correct that it has peaked or is nearing a peak. Price is down and dropping, supply is ample for demand, so production may be levelling off based on demand. In that sense, it has peaked.