Last week, David Baumann took a close look at natural gas. Here are some of the observations from this researcher at the American Institute for Economic Research:
NATURAL GAS IS CLEANER THAN OIL. Natural gas produces only half the carbon dioxide for the equivalent heat produced by coal and 70 percent of that produced from burning oil. In terms of greenhouse gases, natural gas is definitely cleaner.
NATURAL GAS IS CHEAPER THAN OIL. At $4.94 per one million British thermal units (BTUs), the July 10 price on the New York Mercantile Exchange, natural gas is a bargain. We currently pay approximately $12 to obtain one million BTUs from oil. Oil has historically commanded a premium over natural gas because oil has a higher energy content per unit and is easier to transport.
AMERICA HAS A FAR MORE DOMESTIC NATURAL GAS THAN DOMESTIC OIL. Compared to America’s domestic oil reserves, which stand at a three-year supply, the United States has at least a 110-year supply of natural gas within its own borders. We are not dependent on anybody else, anywhere, for any of this.
Baumann’s conclusion?
So it appears that T. Boone Pickens’ claims are true. Natural gas is cleaner, cheaper, abundant, and it’s ours.
Considering the benefits to U.S. national security and the environment, U.S. energy policy should increase it focus on natural gas. It may not be “the” solution to America’s energy problems, but it’s part of the solution.
Read the entire article HERE.