A Robust Shale Gas Market
In July 2013, Global Energy Watch analysts predicted the global shale gas market will reach a value of $33.2 billion in 2013. They noted that, “Investment in shale gas will increase over the next decade as countries around the world are looking to emulate the rapid development the industry has taken in the United States.”
The lead analyst of the shale gas report noted that “The shale gas revolution in the United States has changed the domestic energy market leading to a vast increase in domestic production and a reduction on the dependence of foreign imports. Over the next decade the global shale gas market will see strong growth as countries with shale resources are investing heavily in the hope that commercial development of shale gas will bring them similar economic and political gains, while North America moves to grow exports of its gas resources.
The world’s most progressive and promising countries are expected to benefit from the expansion of the shale gas market between 2013-2023. According to Global Energy Watch, “The shale gas market report will be of value to current and future potential investors in shale gas developments and the gas, energy, and natural resource markets, as well as companies who wish to broaden their knowledge on the shale gas sector as a whole.”
The Natural Gas Revolution
Creating natural gas from shale also creates jobs, boosts the domestic energy supply, and revitalizes energy-intensive industries such as manufacturing. Opportunities expand to national and global markets while introducing a cleaner source of energy. U.S. Representative Tim Murphy helped found the Congressional Natural Gas Caucus. He believes in the benefits of a cleaner environment and supports the notion that natural gas from shale “is a mechanism by which we can have a clean source of energy and do it right and help our economy in massive ways”.
The rising availability of shale gas encourages utilities to make the switch from coal to a cleaner-burning natural gas. John Rowe, the former head of Exelon, identifies the advancements made through natural gas towards U.S. energy and environmental goals. Natural gas produces up to 60 percent fewer carbon dioxide emissions than coal when used for power generation.
Over the past decade, energy companies have been able to unlock the possibilities that natural gas from shale provides. The U.S. Energy Information Administration (EIA) estimates that a quarter of the 2,300 trillion cubic feet of natural gas resources in the United States are held in shale formations.