Shale Gas Is The Bridge To The Future

During a conference held at the Massachusetts Institute of Technology (MIT) earlier this summer entitled “Unconventional Natural Gas,” industry experts meeting to discuss the role of shale gas in the US energy landscape called the unconventional gas “the bridge to the future.”

“Historically gas has been undervalued in the market,” said Tony Meggs, former head of technology for BP and moderator of the MIT conference. “Getting the gas to the consumer was a serious pain in the ass compared to a barrel of oil. Two things are changing gas markets: the climate debate [and] the shale gas boom.”

A shift to cleaner and more renewable energy sources is undoubtedly making shale gas an attractive option said Jeff Fisher, Senior Vice President of Production for Chesapeake Energy, the leading player in the new gas industry.

“Combined with wind and solar energy, [shale gas provides] a long-term viable renewable energy mix,” he said.
Henry Jacoby, a professor at MIT who studies the ongoing interaction between energy and the environment agreed with that statement, and said with cap and trade or regulatory climate policies in place, “gas will displace coal” and grow as a cleaner alternative. Natural gas is the least carbon intensive of all fuels.

However, the environmental impact isn’t the only reason shale gas is “a game changer,” said David Fleishacker, an expert on energy policy. Shale’s abundance is a major factor in highlighting a switch from coal-based energy to gas-based energy.

“Shale gas is widespread, easy to find, and produced at a rate and cost that is economic,” he said.

To date, 32 of 50 states produce natural gas. Some experts estimate there is a 100-year supply on shale gas at current consumption rates.

And the technology to extract the gas – the combination of hydraulic fracturing and horizontal drilling – is driving the market as well.

“Advancements in technology and innovation have unlocked vast supplied of unconventional gas resources,” said Fisher.

While an energy future that is based on minimal to no reliance on fuel at all, the panelists agreed, shale gas is the best option on the table to help the US get to that point.

“The low carbon economy is further away than we think,” said Fleishacker. “Natural gas is here now and will be an essential element in the bridge to the low carbon future.”

Watch the entire conference:

SOURCE:
Go Marcellus Shale: “MIT Energy Conference 2010 – Unconventional Natural Gas”

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Posted by admin on September 2nd, 2010. Filed under Environment, Natural Gas, Shale Gas, Technology. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry