We need reliable energy to meet our growing needs. We need cleaner energy so we can all enjoy the benefits of reduced air emissions. And, we need abundant and domestic energy to reduce our reliance on foreign sources of energy and create jobs here at home.
How do we get there? The answer is right here – North America’s abundant supplies of natural gas. It’s time we put this clean, domestic resource to greater use for our environment, economy and energy security.
EIA: Natural Gas Boom Will Continue for Decades
by Erica Bowman, posted on Monday, December 16, 2013
America’s energy boom will last for decades, according to the U.S. Energy Information Administration’s Annual Energy Outlook 2014, which was released today. Natural gas production, specifically, will grow steadily, increasing 56% from 2012 to 2040.
“Advanced technologies for crude oil and natural gas production are continuing to increase domestic supply and reshape the U.S. energy economy as well as expand the potential for U.S. natural gas exports,” Adam Sieminski, EIA Administrator, said in releasing the Annual Energy Outlook 2014.
By 2040, natural gas will account for 35% — the largest share — of total electricity generation, the report said. Electricity prices are expected to remain stable.
The increase in natural gas production will also lead to increased exports of both pipeline and liquefied natural gas (LNG). The U.S. will become a net exporter of LNG by 2016. Pipeline exports of U.S. natural gas to Mexico will grow by 6 percent a year to 3.1 trillion cubic feet in 2040 and those to Canada by 1.2 percent to 1.4 trillion. Over the same period, pipeline imports from Canada will fall 30 percent to 2.1 trillion cubic feet in 2040 from 3 trillion in 2012.
All this is great news for the environment, as the EIA says that total CO2 emissions will remain below their 2005 levels between now and 2040.
You can read an executive summary of the report here.
Washington, D.C. – The United States has experienced a transformational shift in the perceived role of natural gas—from an energy source sometimes seen as unreliable and scarce ten years ago, to one that is now recognized as an essential component of a clean and secure energy portfolio. The American Gas Association has released “The Promise of Natural Gas,” a vision that points to a decade or more of relative market stability projected for this domestic, abundant fuel, and what it means for our nation and utility customers.
“This new era of sustained market stability poses great opportunity for our nation,” said Dave McCurdy, president and CEO of the American Gas Association. “America’s natural gas utilities are working within their communities to make vital investments in delivery infrastructure that make it possible for natural gas to serve a foundational role in meeting the nation’s energy needs for decades to come.”
AGA staff examined data on geologic formations, utility infrastructure, economic factors, and federal and state policies to shape a forward-looking view of natural gas. The vision outlined in the study states:
For the next decade, domestic natural gas supplies are expected to be sufficiently robust to meet substantial growth in demand across all sectors.
This strong natural gas supply position, when coupled with a growing and accessible delivery infrastructure, offers the nation a promise of affordable energy that can fuel economic recovery while also protecting our environment.
Natural gas utilities can make the most of this promise by working with customers and local policy makers to leverage the efficient use of natural gas in thermal applications, expand access to natural gas vehicle fueling infrastructure, increase the use of combined heat and power technologies, and explore how micro-grids can help communities address their energy needs.
“The Promise of Natural Gas” and the market stability white paper on which it is based are available at aga.org/promise.
The American Gas Association, founded in 1918, represents more than 200 local energy companies that deliver clean natural gas throughout the United States. There are more than 71 million residential, commercial and industrial natural gas customers in the U.S., of which 92 percent — more than 65 million customers — receive their gas from AGA members. Today, natural gas meets almost one-fourth of the United States’ energy needs.
AGA link: http://www.aga.org/Newsroom/news-releases/2012/Pages/AGA_Report_Envisions_a_Decade_of_Natural_Gas_Market_Stability.aspx
Few American industries are doing better right now than energy, particularly natural gas. (Another is the automobile sector.) And the impact on the U.S. economy is significant, adding $283 billion to the GDP last year alone, IHS has reported. By 2025, it will add about $533 billion. According to a recent IHS study, unconventional oil and gas production trends have led to higher household incomes, as well as boosted trade and U.S. competitiveness in the world economy.
In 2012 alone, more than 2 million jobs were supported by the unconventional oil and gas production industry. By 2020, more than 3 million American jobs will be supported by the industry. In 2025, IHS predicts that nearly 515,000 manufacturing jobs will be supported in some way by unconventional oil and natural gas. Thanks to lower energy bills, disposable income in U.S. households rose by an average of $1,200 per year in 2012; that figure is expected to nearly triple by 2025, according to IHS.