Last week we featured a video with Ethan Hawke and other pretty people pushing the anti-fracking narrative.
Greens are terrified that shale gas will prove so popular it will end their inefficient pipe-dream renewables programs. See what this gas industry analysis says, and you can see why Big Green is so desperate to find something, anything it can use to make shale gas a demon:
“You have one energy that represents today more than 20 percent of the energy mix, and solar today is close to zero and will represent maybe 1 or 1.5 percent in 20 years from now,” said Jean-Jacques Mosconi, Total head of strategy. The trouble is that a new “golden age of gas,” as the International Energy Agency dubbed it, has created massive over-capacity in a key rival fuel for power generation.
“The economic viability of a lot of the renewables are getting killed because we have too much gas in the world right now,” said Jeff Currie, global head of commodities research at Goldman Sachs. “It’s made a lot of these other projects like solar and wind struggle in terms of their economic viability, and coal too.”
Gas power plants can be built at a fraction of the cost of nuclear, and the reserves found so far are eye-poppingly huge. The US alone is estimated to have 862 trillion cubic feet of the stuff. Turn up the thermostat and call me Lucy, that’s a lot of gas. (Daily Bayonet)