Continuing a trend which began in 2008, the Energy Information Agency (EIA) has released its 2011 fuel estimates and has determined that there are 827 trillion cubic feet (Tcf) of “technically recoverable” natural gas in the nation’s shale deposits.

According to the Financial Times, that is up from about 353 Tcf of natural gas in the EIA’s estimates released this time last year.

The report also indicated that world oil prices will continue to rise. “In 2035,” the report indicates, “prices will rise to $200 per barrel. The EIA points out, as Boone Pickens has warned,

World economy is destined to see a progressive increase in oil prices, when “in 2035 the prices will climb to 200 U.S. dollars a barrel” largely because “world oil consumption will increase from 83.7 million barrels in 2009 to 110.8 million in 2035.”

Natural gas prices, on the other hand, “will remain below $5 per thousand cubic feet (Mcf) until 2022, meaning the price-to-energy ratio between natural gas and gasoline or diesel fuel will become greater toward natural gas over the next ten years.

— The Pickens Team