Chart of the day

NatGas

Per this article at American Enterprise Institute, shale gas production has boosted US daily output of natural gas to 90 billion cubic feet per day this year through July (see light blue bars in chart), up from about 65 billion cubic feet per day in 2005, and in the process replaced coal as an energy source for electricity generation. Natural gas produces about 44% less CO2 to produce a kilowatt hour of electricity compared to coal (1.21 pounds vs. 2.15 pounds), and as natural gas has increasingly been replacing coal as fuel source to generate electric power, annual CO2 emissions from the electric power sector (dark blue line in chart) are on pace this year to be the lowest since 1992. Even though environmentalists oppose fracking, that “evil” technology has arguably done more to reduce CO2 emissions and improve the environment than anything the green advocates support, like increased use of renewable fuels including solar and wind.

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About Scott

Live next to Chevron refinery. Lots of petroleum consultants in the area. I am interested in learning more about the industry. Also, interested in finance, business, and investing in world markets.
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