Nat Gas News – April 24, 2017

Nat Gas News – April 24, 2017

In the News

Natural Gas Moves to the Naughty List

Bloomberg reports: Think coal’s got it bad in the fight against climate change? Watch what happens to natural gas. Power plants around the world are stepping up their use of gas as a fuel because it burns cleaner than coal—and in the U.S., at least, it’s cheaper. Gas now supplies about a third of the country’s power, up from just 17 percent a decade ago. But U.S. environmentalists have vowed to go after gas-fired power plants with the same vengeance they’ve used to force the retirements of hundreds of coal facilities. Even coal miners are warning their fossil fuel kin to beware. Gas producers “will be next on the list of the industries to be destroyed,” says Robert Murray, chief executive officer of U.S. coal miner Murray Energy Corp. Coal lost its place as America’s No. 1 power plant fuel last year, dethroned by gas. More than a thousand coal mines have closed since 2009, putting about 36,000 people out of work. Researchers and energy executives alike warn that if gas can’t cut globe-warming emissions, it’s only a matter of time before it shares the same fate. For more visit Bloomberg.com or click the following link https://bloom.bg/2q4VP7H

Massive Natural Gas Deposit Discovered in the Gulf Coast Basin

OilPrice reports: Technological advancements have just pushed the boundaries of recoverable oil and gas in the U.S. further, according to an announcement by the U.S. Geological Survey. The agency reported that two formations in the Gulf Coast Basin may contain as much as 304.4 trillion cubic feet of natural gas plus 1.9 billion barrels of natural gas liquids, making the area the largest untapped continuous gas deposit in the country. The two formations— Haynesville and Bossier—also contain some 4 billion barrels of crude, according to mean estimates, the USGS also said in a press release. For more on this story visit oilprice.com or click the following link http://bit.ly/2pb6aBI