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Pemex Hedges Oil For First Time In 11 Years

US DOE Issues Report in Support of Natural Gas

The US Department of Energy’s National Energy Technology Laboratory last week released a report in support of natural gas as a cost-effective resource for the generation of electric power and an environmentally favorable alternative.

According to the “Role of Alternative Energy Sources: Natural Gas Power Technology Assessment”, because of the existence of shale basins across the US, natural gas will continue to expand as a gas resource, while horizontal drilling and hydraulic fracturing (fracking) will guarantee decades of domestic supplies.

In terms of environmental impact, the report said “properly engineered and implemented natural-gas systems have favorable environmental and cost profiles in comparison to other energy sources."

The report is based on the evaluation of gas combined cycle; gas combined cycle with carbon capture and sequestration; gas turbine simple cycle; and fleet baseload average.

By. Charles Kennedy of Oilprice.com



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