Thursday, September 14, 2023

Natural gas

The price of natural gas in 1950 was $1.40 and if that price rose along with inflation the price today would be $25.94 when in fact the price today is $2.73. Fracking had been around since 1947 but it was 2005 when it went big time. Since then the supply of natural gas has increased and allowed exports to increase from less than one trillion cubic feet to just over 7 trillion. This at a time when the world needed the gas. The US is building more liquid natural gas (LNG) export facilities while Europe is build facilities that can except (LNG). This at a time when Russian natural gas is no longer available to Europe. Natural gas produces far less CO2 than other fossil fuels and does not emit heavy metals like lead and mercury and does not cause acid rain. It is the perfect go between while the world wakes up to the fact that the answer to climate change is nuclear.

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