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Fracking, America's secret weapon. [Copy link] 中文

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Post time 2012-12-14 23:08:45 |Display all floors
[backcolor=rgba(255, 255, 255, 0)]Who Needs Kyoto? Cheap Natural Gas Is the Answer[backcolor=rgba(255, 255, 255, 0)]By Yahoo! Finance | The Exchange – 14 hours ago

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By Joel Kurtzman, Executive Director, Center for Accelerating Energy Solutions, Milken Institute

Last week's global climate talks in Doha, Qatar ended without any further deal to curb greenhouse gas emissions. That leaves the 1997 Kyoto Protocol in place, which it extended. The only trouble is the United States never ratified the accords, which call for reducing national emissions of CO2 and related gases to 1990 levels by 2020. To make matters worse, in the intervening years, Canada and Japan opted out of the accords. With Doha a failure, and Kyoto in tatters, the environmental community was in a funk.

But before the Doha meeting even began, a bright spot emerged that no one saw coming. According to the U.S. Energy Information Agency (EIA), America's greenhouse gas emissions are now at 1992 levels, down from their peak in 2008. Despite refusing to ratify Kyoto, the United States could be the first developed nation to reach the target.

Who would have thought?

The United States has become one of the cleanest, greenest countries on earth, relative to the size of its gross domestic product. In 2008, CO2 emissions were about 1,600 million metric tons a year, according to the EIA. Today, they are 1,300 metric tons, a drop of nearly 20 percent.

Price Wins

The reason for the change is price, not politics or treaties. Natural gas, which emits 43 percent less CO2 than coal, and releases no particulate matter into the atmosphere, is now the cheapest fuel available for producing electricity since the technology of hydraulic fracturing, or fracking, was perfected. As a consequence, the electricity industry has made a lightening fast changeover in the fuels it uses. In 2008, about half of America's electricity was produced by burning coal, with 20 percent produced from natural gas, according to the EIA. Today, 40 percent of our electricity comes from natural gas with coal's share just 32 percent.

To be fair, a deep recession followed by three years of lackluster growth contributed to America's unprecedented reduction in emissions. But while those reductions in emissions are likely to be temporary, the gains from the utility industry moving to natural gas are likely to be permanent. The reason for that is that the nation's largest natural gas fields have barely been developed.

But, with prices as low as they are today — natural gas sells for less than half of what it did in 2008 — companies have pushed the pause button on further development and exploration. Rig counts have gone from 1,600 in 2008, to about 400 now. Energy companies are waiting for prices to rise before rolling out more rigs.




I've made my living, Mr. Thompson, in large part as a gambler. Some days I make twenty bets, some days I make none. There are weeks, sometimes months, in fact, when I don't make any bet at all because ...

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Post time 2012-12-14 23:10:43 |Display all floors
4 short years, America changed so much under Obama.


America will shortly be energy Independent.
I've made my living, Mr. Thompson, in large part as a gambler. Some days I make twenty bets, some days I make none. There are weeks, sometimes months, in fact, when I don't make any bet at all because ...

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Post time 2012-12-15 18:15:02 |Display all floors
US CO2 emissions, 20 years low.
China at 400% increase since 1992.

Now, where is our Red States American, Sansukong.?


I've made my living, Mr. Thompson, in large part as a gambler. Some days I make twenty bets, some days I make none. There are weeks, sometimes months, in fact, when I don't make any bet at all because ...

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Post time 2012-12-15 18:21:23 |Display all floors
By 2020, US will be energy independent, even an energy exporter.

China will be an even bigger importer than now.

Economic dynamic has shifted in favor of US.


With low cost of energy as a base.....high levels of technology and resource rich......the word now is not rise of China......but rise and re rise of US.
I've made my living, Mr. Thompson, in large part as a gambler. Some days I make twenty bets, some days I make none. There are weeks, sometimes months, in fact, when I don't make any bet at all because ...

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Post time 2012-12-15 18:44:55 |Display all floors
Revolutionar Post time: 2012-12-15 18:21
By 2020, US will be energy independent, even an energy exporter.

China will be an even bigger impor ...

"the word now is not rise of China......but rise and re rise of US."

Ignorant chest beating.

China will just become like the U.S of the past. It will be relying on unstable Middle Eastern countries for its energy. Like the U.S, it will be drawn into the region to try and protect and secure investments. Its current stance of no interference will be tested and most likely dropped. The U.S on the otherhand will be saying thank god, I don't rely on the Middle East anymore.
I may disagree with what you say, but I'll defend to the death your right to say it - Voltaire

The secret of freedom lies in educating people, whereas the secret of tyranny is in keeping them
ignora

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Post time 2012-12-15 18:50:38 |Display all floors
Energy consumption has to change, world wide.

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Post time 2012-12-15 20:18:37 |Display all floors
What will this mean to the value of the US $?
ExJ.H

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