Contrary to some previous reports, natural gas offers greenhouse gas (GHG) emissions advantages compared with coal-fired power generation, according to a recent study by Worldwatch Institute and Deutsche Bank Climate Change Advisors. Earlier this year the U.S. Environmental Protection Agency updated its methodology for estimating methane (CH4) emissions from natural gas systems, but gas-fired generation still releases 47% less GHGs than coal from source to use, the researchers said. A controversial study by Cornell University earlier this year reported that CH4 leaks were a particular concern for gas produced from shale formations using hydraulic fracturing (see Shale Daily, April 13). But even counting higher estimated emissions of CH4 from shale gas production activities, gas-fired power generation still beats coal-fired power by a wide margin when it comes to overall GHG emissions, according to a subsequent study published by the gas-friendly American Clean Skies Foundation (see Shale Daily, April 21). IHS Cambridge Energy Research Associates in August said GHG emissions from shale gas production likely are “significantly overstated” (see Shale Daily, Aug. 25). Another recent study by the National Center for Atmospheric Research found that burning natural gas emits “far less” carbon dioxide than coal but even so, more reliance on gas won’t significantly slow climate change.
Articles from Slow
Shale gas prospects in British Columbia (BC) appear to be the sole “bright spot” on a darkening natural gas landscape projecting a continuing decline in Canada’s overall gas production in the years ahead, according to a report recently released by the Conference Board of Canada.
In Mexico there is no debate about shale gas having potential, but there is an ongoing discussion in the federal government concerning whether to focus on finding out exactly what that potential might be. A relatively new government body, the National Commission for Hydrocarbons (CNH), is pushing other parts of the federal government to pursue a more diversified energy strategy.
Driven by sustained intensity in the U.S. onshore and a slow recovery in the Gulf of Mexico (GOM), the domestic rig count should average 1,850 in 2011, which would be 20% higher than in 2010, Baker Hughes Inc. said Monday.
Natural gas will be the fastest growing fossil fuel globally to 2030, but growth will slow as the market base expands and demand-side efficiency measures take hold, according to a forecast by BP plc.
After growth of 2.4% in 2010, Nova Scotia will see its economy slow in the coming year, according to the Provincial Monitor report by BMO Capital Markets Economics. However, future exports of natural gas are a bright spot on the horizon.
Billionaire Carl Icahn, known for investing in what he considers underperforming companies and helping them to achieve a better value, has become Chesapeake Energy Corp.’s second-largest shareholder, according to a filing with the Securities and Exchange Commission (SEC).
It has been conventional wisdom that with gas rig counts beginning a slow decline recently, production is still rising overall because it is mostly rigs being deactivated in conventional plays rather than those involved in the more prolific shale gas search. However, some market watchers are not buying that argument.
Continued high natural gas inventory levels, enhanced production capabilities and slow consumption growth are expected to keep natural gas prices from rising dramatically in the coming months, the Energy Information Administration (EIA) said in its Short-Term Energy Outlook for January.