Natural Gas: The Global "Fuel of Choice"

[dan_s]

Houston Chronicle: Natural gas is now the fossil fuel of choice

Coal is too dirty, and renewables are too intermittent. But natural gas is just right. Energy companies of every stripe have fallen in love with the stepchild of fossil fuels. No longer considered an annoying byproduct of oil drilling, natural gas’ multiple applications and relative cleanliness guarantee it a place in the future energy mix. The CEO of French energy giant Total, Patrick Pouyanné, joked that he runs a gas and oil company, rather than oil and gas, during his appearance at CERAWeek by IHS Markit, the annual energy conference in Houston. Every major international energy company in the world is emphasizing gas over oil. Like other fossil fuels, natural gas is abundant, transportable and easily stored near where demand is high. Gas also produces up to 60 percent less in carbon emissions than coal and 15 percent to 20 percent less in heat-trapping gases than gasoline.
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So far, EIA's predictions of a "glut" of natural gas supply in the U.S. has not shown up in the data. Of course, that may change. EIA's supply predictions are based on the belief that a massive amount of "associated gas" from the Permian Basin will show up on the market this summer. My SWAG is that a lack of midstream takeaway capacity is causing the delay.