Growing Unconventional Gas Tops in Conversations at IHS Conference

The IHS CERAWeek 2010 conference concluded with a message that natural gas is here and it's helping build better energy future. While the conference covers all energy forms, speakers and conversations led to natural gas because it is plentiful, cheaper, more flexible and cleaner than other energy sources especially coal.

Energy Game Changer

Not so long ago, the industry didn't think natural gas had a big enough supply. Obviously, that has changed. An IHS Cambridge Energy Research Associates report states that gas potential has tripled in the last three years in North America alone. IHS also expects to see gas from shale formations to account for half of the U.S. supply by 2035.

This conference comes at the same time the Obama administration touts renewable energy. At the same time, oil and gas industry leaders warn that too much reliance on renewables is dangerous. The oil and gas industry says that current technologies for wind and solar power are not enough to support large populations. Nonetheless, White House economic adviser Lawrence Summers said that energy policy must include renewable energy sources as well as nuclear power and fossil fuels for the sake of reducing greenhouse gas emissions and U.S. dependency on foreign oil. The industry needs to keep working on advocating natural gas to see its message reach the White House. 

Natural Gas Advantage

Natural gas has everything going for it. Natural gas burns 50 percent cleaner than coal and it's available in North America. Because of the domestic availability of natural gas, U.S. could cut its dependence on foreign oil as well as stop paying the defense surtax. Not only is energy technology tapping into shale faster and cheaper than before, but also may lead to game changing technology where a fuel cell could convert natural gas or grass into electricity and another that could convert coal-burning CO2 into concrete.

There's still the question of hydraulic fracturing, also known as fracking, and its impact on drinking water. If the oil and gas industry can resolve this issue, then the world it its oyster, as the industry can bring in new jobs in addition to all the other benefits.