Natural gas is playing an increasingly important role in the global economy, rising to the occasion as an alternative to other fossil fuels such as coal because it burns cleaner. As the oil reserves in many parts of the world are being depleted, the availability of a viable alternative such as natural gas is becoming increasingly important. So too is the lure of the future possibility of energy independence for countries both developed and developing.
In the last decade, oil and natural gas development have rapidly expanded in the United States, fundamentally reshaping domestic energy production. It is abundant both within the United States and around the world. Currently, natural gas provides 22% of the U. S. energy demands. It also emits less than half of the greenhouse gas as other fossil fuels when burned and is more affordable, at a fraction of the cost of oil (Benincasa, 2011). It also emits less than half of the greenhouse gas as other fossil fuels when burned and is more affordable, at a fraction of the cost of oil (Benincasa, 2011). Consequently, replacing oil and coal with natural gas would significantly reduce the human contribution to global warming. By 2020, the United States is predicted to be a net exporter of natural gas and to produce more crude oil than Saudi Arabia (Conti, 2013). How is all of this possible? By drilling long horizontal wells thousands of feet below the surface and fracturing the rock with large volumes of water-based fluid, energy companies are now able to extract substantial amounts of oil and gas from shale. This process is known as hydraulic fracturing.
Geologic formations may contain large quantities of oil or gas, but have a poor flow rate due to the permeability, or from dama...
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...ave yet to reach an agreement on fracking. In January, the EU elected to not pursue regulatory legislation at the international level.
This reshuffling of the global economy will resultfrom the spread of America’s hydraulic frackingknow-how and innovation, benefiting countriesworldwide.
For the past three years, the United States has been the world's fastest-growing hydrocarbon producer, and the trend is not likely to stop anytime soon. U.S. natural gas production has risen by 25 percent since 2010, and the only reason it has temporarily stalled is that investments are required to facilitate further growth. Having already outstripped Russia as the world's largest gas producer, by the end of the decade, the United States will become one of the world's largest gas exporters, fundamentally changing pricing and trade patterns in global energy markets. (Morse, 2014)
The United States currently relies heavily on coal, oil, and natural gas for its energy. While the price of natural gas per barrel continues to plummet, the United States is constantly seeking new sources of renewable energy. Renewable energy consists of any type of natural resource (solar power, ocean power, wind power, rain, snow, etc.) that naturally and automatically replenishes itself. Renewable energy is important because it is infinite and everlasting, meaning our children and our children’s
of research and development in geothermal will make geothermal the best solution for providing electrical power in the United States Brittany McManus Abstract: The unprecedented Paris Agreement means the United States needs to find ways to reduce greenhouse gas emissions. To reduce emissions of carbon dioxide, the highest percentage of greenhouse gases emitted, the United States must replace fossil fuels in the production of electricity. Currently there are several options being put forth but their
Improving Energy How much energy is used from simply charging a cell phone? Harmful fossil fuels are used to produce most of the energy the world uses daily. Although some people believe that fossil fuel industries are stable, enabling green jobs to produce and manage alternate sources of energy would create a more secure, reliable, and healthy economy. What exactly is a green job? “The term ‘green jobs’ encompasses a number of fields, ranging from jobs that increase energy efficiency and reduce
Refining & Marketing Industry According to the GAO report, the U.S. petroleum refining industry experienced a period of high product prices and industry profits from the early 2000s through to 2007. ( United States Government Accountability Office , 2014). Since the recession of 2007 to 2009,the industry has been in transition ( United States Government Accountability Office , 2014). The three major changes that have recently affected the domestic petroleum refining industry include: Increased production:
The path that the United States took to become the largest consumer of power in the world was one largely chosen by market forces and government intervention. The role of culture on the use of energy is negligible in comparison with the influences of economic and political factors. The choices to adopt several new methods to produce energy were caused by the backing that these energies had in creating wealth or saving money for those who used the new energy and by the backing of the government
environment and considers the renewable energy industry as a whole within the current political, economical, socio-cultural and technological landscape. Political / Legal Factors The future of the United States solar energy industry will be shaped not only by economic growth, but also by the rate of declining oil resources and the global realization of the consequences of human induced climate change. Political responses to this realization in the United States include; new policies, legislature, and
The energy industry provides many different resource options for consumers to choose. Two main markets within this industry exist: conventional energy and alternative energy. Conventional forms of energy never suffer from low demand because of consumer’s familiarity with these resources. Alternative energy, on the other hand, is still a growing market. The United States government shows great interest in adapting to a lifestyle that uses these forms of energies by passing acts, creating energy policies
North Dakota Boom, and US Energy Independence Introduction: Throughout the past three decades, energy has been a perennial issue in United States politics, economics, and media. The main concern surrounding this topic is the idea of energy independence and how the United States should proceed into the future. Energy independence relates to the goal of reducing United States dependence on importing foreign oil and other foreign energy sources. This desire aims to maintain energy dependence domestically
Fossil fuels have been relied on for many years as an energy source, but they have caused many environmental problems. Taking these sources of energy out of the Earth alone destroys the landscape due to having to drill in certain locations. Pollution also contributes to the environmental problems. There are large amounts of carbon and sulfur dioxide that are released into the atmosphere. The rise of carbon dioxide has been contributing to the greenhouse effect, which has created warmer temperatures
Energy Crisis Energy is important to our nation for many reasons. It is a key economic driver. It offers new market opportunities for business. Providing energy to our nation has been an exciting challenge in recent years. Many changes have been constant throughout that period. The past tells Americans that predicting the specifics of the energy future for our nation with great accuracy would be unlikely. Americans get their energy from different types of resources. With all the different resources
industry's that make up Taiwan's economy are energy, agriculture, and information technology. These industries have helped Taiwan in reaching number 27 on the all time GDP list. Taiwan’s gross domestic income is at an outstandingly high US$ 474,149,000,000. This shows that Taiwan has been able to use it's resources to produce at an extremely high level. This production hinges on the success of it's major industries. One of Taiwan's most productive Industries is the field of Information Technology. It
life and it should not sit in a power plant until it is decomposed. Another issue I want to address is the growing need of developing alternative energy sources in the United States. According to, fossil fuels provide more than 80% of the United States energy consumption. The United States has become dependent of fossil fuels and need to reinvest in new energy sources . Converting nuclear waste into electricity could solve two issues with one solution. Existing nuclear reactors use light-water technology
Industry Overview The Oil & Gas Industry within the Energy Sector includes Oil and Gas exploration and Production, Oil and Gas Refining, Storage and Transportation. The three major focus areas of the oil and gas industry is firstly; exploration and production of oil and natural gas known as the “upstream”, secondly; transportation, storage, and selling refined oil and gas products called the “midstream’, and thirdly; refining and promoting of crude oil or “downstream”. The major international oil
Wind energy or wind power is the extraction of kinetic energy from wind and the conversion of it into mechanical energy. Man has harnessed the power of the wind for many centuries. Wind is a type of solar energy. The sun heats the earth’s surface and the warmer air begins to rise. Cooler air flows into the area below the rising air causing wind. The Egyptians utilized the wind as early as 5000 B.C. by attaching sails to propel boats across the Nile River. For many years sailing ships on the
Laws for environmental preservation The government has implemented new policies that have comprehensive rules to try to prevent the pollution to the environment. The State Environmental Protection Administration (SEPA) is in charge of coming up with laws. After the laws are drawn up, they await approval from the State Council. The purpose of SEPA is to circulate environmental laws and rules, gather information and statistics as well as contribute guidance on environmental problems. The Chinese government