Saturday, December 15, 2012

North Dakota Oil Rush, Crude-By-Rail, US CO2 Emissions At A 20-Year Low -- Forbes

From Forbes.com (sent by Don):
In thinking about what is to come, looking back five years helps set the stage.
January 2008: The energy sector was facing the great recession, high current and future expected natural gas prices, and job losses to China. There was a generally poor outlook for the energy industry and the economy. Few could have predicted the changes that were to come. 
Unforeseen happenings include the North Dakota oil rush, liquefied natural gas facilities being used as export facilities (instead of as import facilities as originally planned), railroads hauling crude oil, and jobs coming back from China.
And, this is just the beginning. 
The commencement of the crude oil and natural gas revolution can be boiled down to one simple equation: Abundant resources + cost effective extraction = high production levels of unconventional oil and gas. 
The net effect is a reshaping of the U.S. energy industry and our economy. Additionally, the country’s increased reliance on natural gas (displacing coal) has already benefited the environment, and will continue to do so in the future. 
Carbon emissions hit a 20-year low (in the first quarter 2012 according to EIA) and some industry observers believe that the U.S. could meet the Kyoto agreement standards by 2020 (even though the U.S. did not sign it).

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.