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Shale Gas to the Rescue?

Compare this to the opportunity of the Bowland Shale. If, by 2020, the UK could exploit its reserves there at just one third the intensity of the exploitation of the Barnett and Marcellus Shales today, the outcome would be phenomenal.

It is understood that Chongqing currently owns 18 shale gas exploration rights established by Ministry of Land and Resources as the first domestic shale gas mining rights the Sinopec Fuling shale gas field.

PRAGUE In late June, the British Geological Survey announced the world s largest shale gas field. The Bowland Shale, which lies beneath Lancashire and Yorkshire, contains 50 more gas than the combined reserves of two of the largest fields in the United States, the Barnett Shale and the Marcellus Shale.

The Shale Revolution s Global Footprint

The US has the largest recoverable shale gas reserves and the second largest recoverable shale oil reserves in the world. It also enjoys a technological lead in shale energy technologies, and it already has a vast network of pipelines, refineries, and ports in the energy sector that can be repurposed for shale gas and oil (though much more investment will be needed).

And shale is not quite completely competent rock.

You exhibited a painting at the Shale Galleries.

The first one was Barnett Shale in Texas and then the Marcellus up in the Northeast across New York, Pennsylvania, West Virginia and Haynesville in Louisiana.

Shale gas is a clean energy resource. It is understood that the completion of the 10 billion cubic meter shale gas field will help cut 12 million tonnes of CO2 emission annually.

The technology of horizontal drilling and hydraulic fracturing, by which shale and other tight rock formations at great depths are bombarded with water and chemicals, has released major new supplies of both natural gas and oil. America s shale gas industry grew by 45 annually from 2005 to 2010, and the share of shale gas in America s overall gas production grew from 4 to 24 .

We found out that we could go to the source rock, which were the carboniferous shales in the basins.

Oil shale reserves are expected to last for the next 30 years.

BRUSSELS The global energy community is abuzz with excitement about hydraulic fracturing, or fracking, a newish technology that has opened formerly inaccessible reserves of gas trapped in underground shale formations. The boom in this so called shale gas production has allowed the United States to become almost self sufficient in natural gas.

But extracting shale energy involves environmental risks and uncertainties, among them groundwater contamination, higher methane emissions, and potential seismic effects. And shale gas emits CO2 when burned, even though it has half the carbon content of coal and has played a significant role in cutting US carbon emissions to mid 1990 s levels. 160

But extracting shale energy involves environmental risks and uncertainties, among them groundwater contamination, higher methane emissions, and potential seismic effects. And shale gas emits CO2 when burned, even though it has half the carbon content of coal and has played a significant role in cutting US carbon emissions to mid 1990 s levels.

Even the much heralded shale gas revolution is a lot of hype 160 similar to the gold rushes and stock bubbles of the past. Shale gas wells deplete far more rapidly than conventional fields do.

But pro fracking critics of the European Union miss a second point the EU has no authority over the development of shale gas in Europe. Licensing and regulation of exploration and production are decided at the national level.

Even the much heralded shale gas revolution is a lot of hype similar to the gold rushes and stock bubbles of the past. Shale gas wells deplete far more rapidly than conventional fields do.

In comparison, shale gas in the US has created an estimated 600,000 jobs that are generating about 100 billion in added GDP and almost 20 billion in public revenue.

Likewise, a September 2013 report by IHS concludes that midstream industries like transportation and downstream industries like manufacturing and chemicals are also receiving a massive stimulus. As a result of the shale energy boom, over 216 billion in total will be invested in the midstream and downstream oil and gas industries from 2012 to 2025.

IHS estimates that in 2012, developments in the shale energy industry increased households real disposable income by more than 1,200. Thus the shale revolution represents a huge stimulus for America, in terms of investment, exports, and a reduction in energy costs.

It is understood that a 10 billion cubic meter shale gas field is equivalent to a 10 million tonne oil field.

The shale would like some shoring, and so parts of it are caved in in there.

Growth in energy and energy intensive industries will fuel additional demand, output, and employment across a wide swath of supporting activities, including transportation, construction, and professional services. Overall, McKinsey estimates that growth in shale energy could add 2 4 to annual GDP and create up to 1.7 million jobs by 2020.

Many Parties provided information on alternative energy resources and mentioned that these include photovoltaic, solar thermal, wind, hydroelectric, geothermal, oil shale, and biomass energy.

Right?

In fact, estimates by the International Energy Agency suggest that the most significant recoverable reserves of shale gas are in the US and China, not Europe. Moreover, even these estimates are really not much more than educated guesses, because only in the US have shale formations been subject to intense exploration over a period of decades.

Growth in shale energy will mean more investment, production, and jobs in the energy sector itself. Lower gas prices will boost manufacturing production, particularly in downstream industries like petrochemicals and primary metals that use natural gas as fuel and feedstock.

Companies must find ways to introduce new technologies and do business that are popular with their customers and retain their trust. (Indeed, in a world of human robot interfaces, 3D printing, nanotechnology, and shale gas extraction, any innovative company must ask itself this basic question.)

The question today is whether a new upsurge of investment will come to our rescue. Optimists point to the shale energy revolution in the US.

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Nor are earlier trade balances about to reemerge. America s trade position will be strengthened by the shale gas revolution, which promises energy self sufficiency, and by increases in productivity that auger further re shoring of manufacturing production.

But the most crucial and almost always overlooked point about fracking is that shale gas, like all hydrocarbons, can be used only once. The real issue is thus not whether shale gas should be developed in Europe, but when it should be used today or tomorrow.

Estonia apos s energy balance and greenhouse gas emissions are dominated by oil shale, which accounts for about 95 per cent of electricity generation, one quarter of the heat requirements, three quarters of total energy related CO2 emissions, and two thirds of methane emissions.

Studies are under way to seek ways of improving the efficiency of oil shale electricity generation and less carbon intensive alternatives.

In this fragile global environment, has America become a beacon of hope? The US is experiencing several positive economic trends housing is recovering shale gas and oil will reduce energy costs and boost competitiveness job creation is improving rising labor costs in Asia and the advent of robotics and automation are underpinning a manufacturing resurgence and aggressive quantitative easing is helping both the real economy and financial markets.

Even in the US, where cheap shale gas is reshaping the energy industry, more wind power was connected to the grid last year than gas, and, in the first three months of this year, more than 80 of new capacity was renewable.

For example, CERES, a non profit organization, has combined Aqueduct s water stress maps with hydraulic fracturing data (from FracFocus.org) to find that nearly one half of shale oil and gas wells in the US are located in areas with high water stress. Early next year, Aqueduct will offer future projections of water stress based on the latest scientific analysis, including predicted effects of climate change.

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