The Good News About Gas

The Natural Gas Revolution and Its Consequences

Courtesy Reuters

Good news about energy is rare. Energy use and its cost are rising worldwide, most countries remain dependent on oil imports, and little progress has been made toward curbing climate change. So the world should take notice of the recent dramatic increase in estimates of unconventional sources of natural gas in North America and elsewhere, perhaps the greatest shift in energy-reserve estimates in the last half century. In the past few years, thanks to technological advances, vast amounts of natural gas -- particularly gas trapped in underground shale basins -- have become economically viable.

This development is an unmitigated boon for consumers interested in affordable energy, environmentalists looking for energy sources that emit less carbon dioxide than either oil or coal, and governments that hope to reduce the political and market power of today's major oil- and gas-producing countries. The prospects for a greatly increased global supply of natural gas

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