![]() CATEGORIES: BiologyChemistryConstructionCultureEcologyEconomyElectronicsFinanceGeographyHistoryInformaticsLawMathematicsMechanicsMedicineOtherPedagogyPhilosophyPhysicsPolicyPsychologySociologySportTourism |
How significant is shale gas?
Estimates of shale gas reserves vary widely. A US government assessment of 32 countries claimed they had 169 trillion cubic metres of technically recoverable shale gas – around the same as the world's economically recoverable reserves of conventional natural gas. The survey put the largest reserves in China, the US, Argentina and Mexico (see map). But the estimates keep changing. The official figure for the US was almost halved in early 2012, while Cuadrilla claims that its Blackpool site alone has 5 trillion cubic meters – ten times more than the US estimate for the whole UK. Similarly, China's own survey put its reserves nearly twice as high as the figure given in the US survey. Whatever the size of the reserves, actual rates of extraction in each region will depend on economics and politics as well as technology. The US government expects shale gas to account for 46% of its natural gas extraction by 2035 and according to BP shale gas – along with tar sands and other unconventional fuels – will make the Americas largely self-sufficient in energy by 2030. By contrast, a Deutsche Bank report looking at the potential for shale in Europe concluded that there would be no 'shale gas revolution' there, due to factors such as higher population density and stronger environmental regulation. There is now so much potential gas that for policy purposes it is better to assume that supplies have the potential to exceed demand … for the rest of the century. Those waiting for a shale gas 'revolution' outside the US will likely be disappointed, in terms of both price and the speed at which high-volume production can be achieved. Some key players
Further reading
Date: 2016-01-14; view: 930
|