US Production of Natural Gas Grew at about 7.5% annually in 2011

With a doubling period of 10 years, gas production is definately up. The huge volume of gas coming on line is driving prices down to a point where it is now practical to use it for purposes formerly reserved for coal.
http://www.eia.gov/todayinenergy/detail.cfm?id=6030

Up to 350 new wells are coming on line monthly in Eagle Ford area of Texas

New well starts in the Eagle Ford region in Texas increased 110% from January through March 2012 compared to the same period in 2011, according to reporting and analysis by BENTEK Energy LLC (Bentek).

http://www.eia.gov/todayinenergy/detail.cfm?id=5950#

Gas Prices Headed Lower CNN Money reports that "While much hype was made earlier this year about how gas had run up further and faster than any time before and may even reach a new all-time high of over $4.11 gallon, prices have been slowly declining since touching $3.95 a gallon at the beginning of April. Gas prices currently sit at $3.84, according to AAA."

"If we don't have any supply issues or refinery outages, we've seen the highs for the summer," 

http://money.cnn.com/2012/04/26/markets/gas-prices/index.htm?iid=Lead

Times reports that the energy market is booming in the US

Times article reports that energy market is improving in US

But wait! There is more!

From WSJ last week: "With domestic electricity demand rising 10% per year in Saudi Arabia, the kingdom now devours more than a quarter of its oil production... IEA figures show that Saudi Arabia now consumes more oil than Germany, an industrialized country with triple the population and an economy nearly five times as large...

Natural Gas >>>Diesel

Royal Dutch Shell PLC is considering building a giant plant in Louisiana that would convert natural gas into diesel fuel. The link below requires a subscription but you can google to find out more about the trend of converting gas to diesel. It is not a new technology but requires a fairly high cost of the liquid fuel and a cheap cost of the gaseous fuel to make it profitable. Apparently we are nearing that point now.

http://online.wsj.com/article/SB10001424052702304072004577323770856080102.html?mod=WSJ_hp_LEFTWhatsNewsCollection