Preview
Preview

Shale Gas: Changing the Global Energy Market Essay

:: 13 Works Cited
Length: 979 words (2.8 double-spaced pages)
Rating: Yellow      
Open Document




- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

It is clear today that for at least the next 20 years natural gas will be a
key energy vector in Europe. Increased consumption and reduction of
European reserves is pushing countries, governments and companies to all
find a more efficient and economically viable energy resource. Like any
major new energy source, shale gas has the ability to confer massive wealth
on some countries — and take it away from others. It has become a global
phenomenon. Extensive and successful extraction in the United States has
sparked other global regions in exploring the potential held within this
possibly new lucrative energy source. The U.S. domestic natural gas
production was previously in decline but following advances in drilling
technologies – horizontal drilling and hydraulic fracturing – production rates
have boomed. The trend is predicted to continue with the U.S Energy
Information Administration (“EIA”) forecasting that by 2035 over 50% of
onshore natural gas production will be accounted for by shale gas
(Continental Economics 2012)1.
The increase in shale gas production has changed the balance of
energy markets regionally and globally. It alters supply and demand levels,
impacting on surrounding energy sources. Just a decade ago in the United
States companies were arranging to invest in facilities for liquified natural
gas. This was to combat the rise in demand for natural gas and the realisation of diminishing domestic supplies. However shale gas boomed
changing investment and production rates in other energy sources and
locations, especially offshore Gulf of Mexico. ‘Gulf gas production has
dropped from 24% of U.S. gas production in 2001 to 9% today’2 and
predicted to diminish almost completely. This is a clear indicator how in this
regio...


... middle of paper ...


...mber)
• Market Watch (2013, 7th August), “Shale gas revolution will create winners, losers”, http://
www.marketwatch.com/story/shale-gas-revolution-will-create-winnerslosers-
2013-08-07 (Accessed 2013, 14th December)
• Stevens, P. (2010, September) “The ‘Shale Gas Revolution’: Hype and Reality”, Chatham
House Report, pp. 15-16
• Telegraph (2013, 30th November), “Barclays invests in shale gas revolution”, http://
www.telegraph.co.uk/finance/newsbysector/energy/10486422/Barclays-invests-inshale-
gas-revolution.html, (Accessed 2013, 15th December)
• Telegraph (2013,10th December), “New shale gas drilling areas to be revealed as
communities promised £100,000 benefits for fracking”, http://www.telegraph.co.uk/
earth/energy/fracking/10507162/New-shale-gas-drilling-areas-to-be-revealed-ascommunities-
promised-100000-benefits-for-fracking.html, (Accessed 2013, 13th
December)


Click the button above to view the complete essay, speech, term paper, or research paper

Need Writing Help?

Get feedback on grammar, clarity, concision and logic instantly.

Check your paper »







This essay is 100% guaranteed.


Title Length Color Rating  
Impact of Shale Gas Boom on the Market Essay - Shale gas has exploded in the North American market. Technology advancements and closing the gap in the days required for in between well moves are making it profitable for owner/operators. Other markets are faced with numerous challenges, and for them this is not the case. What are the challenges that European and Asian markets face, and when will they reap the rewards from their shale rich geologies. Less than 5 years ago, North America’s shale boom was readily dismissed and looked upon as a “source for marginal additions” to the supply of oil globally....   [tags: natural gas, North America, Europe, Asia]
:: 7 Works Cited
862 words
(2.5 pages)
Better Essays [preview]
Essay on Unconventional Gas Production - Unconventional Gas Production According to IEA, unconventional gas is difficult to technologically or more expensive to produce and it is divided into coal bed methane (CBM), tight gas and shale gas. Gas shales are fine grained, organic rich sedimentary rock. Exploitation of shale deposits proceeds through the discovery stage, drilling and reservoir evaluation to production. Shale gas is a dry gas composed of 90% methane, produced from shale formations that functions as both source for the gas and reservoir....   [tags: Shale Gas, Energy] 1905 words
(5.4 pages)
Strong Essays [preview]
The Shale Gas Revolution Essay - 1. INTRODUCTION The world is increasingly taking interest in the potential for a shale gas revolution. Australia is no exception to this trend. The key question for Federal, State and Local Government is, assuming a shale gas revolution is seen as desirable, what policy measures maybe taken in order to achieve this end and what should any debate over shale gas policy be focusing upon. This brief paper sets the context of the shale gas revolution. It then outlines the characteristics present in the USA that generated their shale gas revolution....   [tags: Australian manufacturing industry] 3303 words
(9.4 pages)
Powerful Essays [preview]
The United States Energy Industry Essay examples - ... Hydraulic fracturing stimulates wells drilled into these formations, making profitable otherwise prohibitively expensive extraction. Within the past decade, the combination of hydraulic fracturing and horizontal drilling has opened up shale deposits across the country and brought large-scale natural gas drilling to new regions. As the number of companies using the high-volume hydraulic fracturing process has expanded, so too has the scale of chemical activity. The long-term health and environmental effects of injecting large volumes of small concentrations of chemicals at this scale are uncertain and hotly debated....   [tags: natural gas, drilling methods] 1429 words
(4.1 pages)
Term Papers [preview]
Essay on Natural Gas Production: Shale Gas -  High expectations on shale gas Thanks to the development of shale gas, natural gas production in the United States has rebounded and is at its highest level in almost 40 years. Exxon Mobil is the worldwide leader concerning the exploitation of this new resource. If we consider than more and more countries are willing to be less dependent upon the energy supply, due to its expertise, Exxon will be a worldwide key player in the exploitation of this energy. Sooner or later, new techniques will be available to suppress the environmental risks connected to extract the gas....   [tags: energy, risks, oil] 684 words
(2 pages)
Better Essays [preview]
Chevron and Oil Trade Dominance Essay - Chevron and Oil Trade Dominance Chevron Corporation is a publically traded world leader in the energy market, trading oil and its byproducts, natural gas, as well as participating and leading in research into alternative energy sources such as solar and geothermal. They’re the third largest oil company in the world (Chevron CNN), and despite recent major legal action against the company they remain profitable. Chevron began as a variety of companies. Originally the company was known as ‘Standard Oil Co.’ (Chevron SFGate), which itself was a splitoff from Standard Oil....   [tags: anti-trust law, oil companies, natural gas]
:: 15 Works Cited
2158 words
(6.2 pages)
Term Papers [preview]
Natural Gas is a Viable Alternative Energy Source for Electricity Production - The use of natural gas as an energy source, to produce electricity, is becoming more common in the United States. Due to growing concerns regarding global climate change and greenhouse gas emissions (GHG); the country’s dependence on foreign oil; and the fears that conventional natural gas supplies could be depleted within the next decade, the United States has begun developing alternative energy sources. Most critics would agree that clean alternative energy is the ideal source of electricity, but many argue about the available technology and efficiency of these sources....   [tags: Energy, Shale Gas]
:: 26 Works Cited
2006 words
(5.7 pages)
Term Papers [preview]
Shale Gas Good for America Essay - Introduction Shale gas is a natural gas that is found deep in the earth’s crust. This type of natural gas usually forms in shale deposits and can be released with a drilling technique known as fracking. Shale gas has become the most important source of natural gas in the United States. Scientist and researchers have always known of shale gas, but none have had the technologies to reach it till now. In early 2000, shale gas compensated for one percent of the United States supply of natural gas resources, but by 2010, shale gas accounted for over twenty percent of the United States supply of natural gas....   [tags: fracking, fossil fuels]
:: 4 Works Cited
953 words
(2.7 pages)
Better Essays [preview]
Essay on Marcellus Shale: Is it Worth the Risk? - You’ve been sick for a while now, but none of your doctors can diagnose your ailment. You want answers, you’re desperate; especially since your condition is not getting any better, it’s steadily declining. You finally find out the cause of your terrible illness, and it makes you feel even worse: it’s your water. A Marcellus Shale drill has contaminated your drinking well and it’s been making you and your family deathly ill. According to the Environmental Studies Capstone, shale is a type of rock that contains fossil fuels....   [tags: wastewater, shale drilling, pollution]
:: 13 Works Cited
985 words
(2.8 pages)
Better Essays [preview]
Global Warming and Greenhouse Gas Emissions Essay - Global Warming and Greenhouse Gas Emissions Overall, emissions of CO2 increased by 0.3% to 6.8 tons per person in the United States. Emissions of greenhouse gases other than carbon dioxide, which account for 17% of total greenhouse gas emissions, declined by 0.6%. Emissions from the industrial sector declined 1.3% even though the U.S. economy grew 3.9% in 1998. However, CO2 emissions from transportation grew by 2.4% while CO2 emissions of regulated utilities expanded by 3.2% as a result of a hotter than normal summer....   [tags: Global Warming Climate Change] 819 words
(2.3 pages)
Strong Essays [preview]