The search for affordable energy sources is never-ending. In the United States, natural gas prices have dropped significantly, inviting European countries to take advantage of the low pricing. Recently a German company announced its plans to expand significantly in the United States. Due to innovations in unlocking shale gas, the price of natural gas in the U. S. is only 25% of the cost in the European market. Price has a significant impact on energy-intensive industries and could drive more European investment to American companies.
Millions of years of accumulating fossil remains, both plant and animal, are buried deep in the earth. These remains create a mixture of carbon and hydrogen, resulting in natural gas. Drilling recovers the natural gas closest to the surface. In the United States, fracking technology is used to recover natural gas located deep in the earth. In order to determine the amount of natural gas reserves in the world, information taken from geological and engineering studies is used to determine the amount of gas that can be recovered from known reservoirs. This information is evaluated using current economic figures and present recovery technology.
Tremendous sources of shale and tight gas are trapped in very dense rock, and must be extracted in order to be of use. Environmental concerns encouraged many new technological developments regarding the extraction process of the cheapest gas. The dramatic increase in U.S. natural gas production is primarily driven by the development of fracking technology. As a result of this technology, the U. S. is expected to surpass Russia as the world’s foremost producer of gas by the year 2018.
Energy Benefits To The UK
The massive production of natural gas in the United States is expected to be heating nearly two million homes in the United Kingdom by 2018, and will be the first time for major imports of this energy source. Recent cold snaps have placed a large demand on Britain’s reserve supplies. With an uncertain energy future, the North Sea gas fields running out, and pipelines to Europe extremely expensive, this U. S. option for affordable gas may hold the answer to eliminating the United Kingdom’s vulnerability to price fluctuations, gas storage shortage, and mechanical failures.
European Resistance To Aggressive Energy Production
At the present time Europe does not allow an aggressive approach to gas production. Officials of BASF, a leading German chemical company, warns that Europe’s continuing refusal to approve more aggressive energy policies will continue to send manufacturing companies to the Unites States. BASF believes that Europe must consider hydraulic fracturing as a critical part of Europe’s efforts to preserve its manufacturing sector and the jobs it provides.
Natural gas reserves are found in over 100 countries in the world. Russia leads with the largest known reserves, followed by Iran, Turkmenistan, Qatar, and the United States. Canada places twentieth on the list. As the population of the world continues to grow at a rapid rate and affordable energy supplies are depleted, the need for cheapest gas still grows. The benefits of natural gas to are plentiful, with communities, residences, and businesses all benefiting from its multiple applications.
- Natural gas is affordable for residential use as well as commercial use. It cost less than propane, heating oil, and electricity.
- Natural gas is dependable and convenient. Turn on an appliance and the gas is always available. No deliveries are ever needed. It can warm your home and run your appliances.
- Natural gas delivers a warm penetrating heat that keeps homes and businesses comfortably warm on the coldest days.
- Natural gas is a clean-burning energy source. Up to 45% less carbon dioxide is emitted during combustion, when compared to coal.
- About 90% of the natural gas is useable fuel, giving it a high efficiency rating. When compared to other energy sources, natural gas is the most efficient.
- The industry continues to develop technology contributing to the high safety rating received by natural gas.
Natural gas is the cheapest, cleanest, and most reliable energy source available. It is the responsibility of the many countries in the world holding natural gas reserves to determine the safest and most effective way of delivering the gas to the home and business owners around the globe.