Most forget now but back to 2011 the Paris-based International Energy Agency confirmed for us the coming “Golden Age” of natural gas.
And IEA was right, global natural gas demand since then is up 33% to 410 Bcf/d.
This was a very widely accepted vision at the time because the U.S. shale gas revolution was just taking off – “the most critical energy development in many decades.”
Over the past 15 years or so, U.S. gas production has ballooned nearly 80% and closing in on 100 Bcf/d.
Gas now supplies 33% of U.S. energy and 40% of U.S. electricity.
At ~50% when President Obama first took office, main competitor coal has entered a structural decline and now accounts for just 20% of U.S. electricity.
The U.S. Department of Energy reports that ~25% of the current 200,000 MW of coal capacity will retire by 2029.
Nuclear has more or less remained at 20% of our power, and its upside has far more questions than answers (e.g., baby boomer retirements, lack of new experts, equipment bottlenecks, incessant regulations, public fear, etc.).
Continue reading the original article here.
Thinking about reviewing your facility's energy plan.
We are here to help...