Tuesday, July 3, 2012

CARPE DIEM: Shale Gas and CO2

MONDAY, JULY 02, 2012

More Shockingly Good News from Shale Gas: CO2 Emissions Will Likely Fall This Year to 1991 Levels

John Hanger points out on his energy blog that energy-related carbon dioxide emissions have fallen so sharply in the first three months of 2012 according to new data from the EIA, that total CO2 emissions this year are on track to drop to the lowest level since 1991, see chart above.

The key driver for the "shockingly good news" that CO2 emissions will probably fall this year to a two-decade low according to John is "the shale gas revolution, and the low-priced gas that it has made a reality, especially in the last 12 months. As of April, gas tied coal at 32% of the electric power generation market, nearly ending coal's 100 year reign on top of electricity markets (see related CD post on this energy milestone).  Let's remember the speed and extent of gas's rise and coal's drop: coal had 52% of the market in 2000 and 48% in 2008."

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