Shale Gas And The Overhyping Of Its CO2 Reductions
Natural gas cannot be credited with the reductions in the US CO2 emissions observed in the last half-decade. Most reductions, nearly 90%, were caused by the decline in petroleum use, displacement of coal by mostly non-price factors, and its replacement by wind, hydro and other renewables. Where low price of natural gas saved some CO2 by displacing coal, it was quickly offset by its increased use in other sectors—highlighting the pitfall of justifying the current market for natural gas as a “bridge” or an interim phase of transition towards clean energy. by Shakeb Afsah and Kendyl Salcito, via Co2 Scorecard Between 2006 and 2011 the US cut its CO2 emissions by nearly half a billion metric tons—more than any other country in the world. This remarkable decline overlaps with the boom in shale gas production, triggered by the large-scale commercialization of fracking technology. The production of natural gas has since soared, and the price has tumbled. Suddenly natural gas has emerged as a...