• 4 minutes Solar to Become World's Largest Power Source by 2050
  • 7 minutes Exxon Aims For $15-a-Barrel Costs In Giant Permian Operation
  • 12 minutes Read: OPEC WILL KILL US SHALE
  • 16 minutes U.S. Shale Output may Start Dropping Next Year
  • 10 hours Why U.S. Growers Are Betting The Farm On Soybeans Amid China Trade War
  • 3 mins Trump to Make Allies Pay More to Host US Bases
  • 13 hours THE DEATH OF FOSSIL FUEL MARKETS
  • 22 mins Tidal Power Closer to Commercialisation
  • 21 hours Can OPEC CUT PRODUCTION FOREVER?
  • 18 hours Sounds Familiar: Netanyahu Tells Arab Citizens They’re Not Real Israelis
  • 1 day European Parliament demands Nord-Stream-ii pipeline to be Stopped
  • 19 hours US-backed coup in Venezuela not so smooth
  • 1 day War on Emissions Gains Traction
  • 13 hours Washington Eyes Crackdown On OPEC
  • 17 mins Biomass, Ethanol No Longer Green
  • 18 hours this is why Climate Friendly Agendas Tread Water
Alt Text

Canada’s Natural Gas Crisis Is Being Ignored

While Canadian crude has been…

Alt Text

The Easy Money In European Natural Gas Is Gone

Traders are unable to take…

Charles Kennedy

Charles Kennedy

Charles is a writer for Oilprice.com

More Info

Trending Discussions

Study: Gas Prices to Remain Stable for 2 Decades

A new study predicts that natural gas prices will remain stable over the next two decades due to sustained levels of shale production.

The report, “Fueling the Future with Natural Gas: Bringing it Home” by IHS CERA, predicts that natural gas prices in North America will range from $4 to $5 per 1,000 cubic feet in 2012 dollars through 2035, and notes an number of opportunities for an increase in natural gas use.

Researchers claim that even at market prices of $4 or less, about 900 trillion cubic feet of unconventional gas resources can be produced economically. Those figures represent over 30 years of current-level US consumption.

Related article: This Commodities Giant Is A Growing Power in Natgas

According to the study, over the next 15 years, an average residence that uses natural gas for heat will save $5,731 compared to an all-electric home.

“This means that the North American natural gas resource base can accommodate significant increases in demand without requiring a significantly higher price to elicit new supply,” Tim Gardner, IHS vice president, said in a news release.

The study noted that gas prices will fluctuate in the coming years but will maintain a steep discount to the equivalent amount of crude oil.

Just using traditional natural gas appliances provides significant cost savings for consumers. Households that use natural gas appliances for heating, water heating, cooking and clothes-drying spend an average of $600 less annually than homes using comparable appliances.

Related article: US Refiner Valero Outperforms

As for industry, the report said that increased domestic natural gas has led to a manufacturing resurgence in the US as companies move operations previously located abroad back stateside to take advantage of natural gas’ accessibility and lower price.

IHS CERA estimates that cheaper natural gas would create 300,000 jobs and $500 billion in investment by 2025 in the chemical sector alone.

By. Charles Kennedy of Oilprice.com




Download The Free Oilprice App Today

Back to homepage

Trending Discussions


Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News