Source: Real Clear Energy – May 25, 2020
The U.S. has led the way in CO2 and GHG emissions reduction by converting a large part of its power generation platform to natural gas.
The International Energy Agency came out in support of the American Shale oil and natural gas revolution, saying “In my view it is far too early to write the obituary of shale oil in the U.S.” – Dr. Fatih Birol, Executive Director of the IEA.
The IEA supports the shale revolution amidst the global energy-environment discussion and transition, citing that the United States reduced CO2 emissions in 2019 by 140 Million tons, while accounting for the vast majority of the increase in oil and gas production. This is the most of any country, and the bulk of which was seen in the power sector as natural gas rapidly replaces coal, and provides backup for unreliable, intermittent solar and wind power. Additionally, as a reliable democracy, the U.S. has relatively predictable laws.
Although wind and solar energy production is growing, the scalability of oil & gas remains unmatched.
Full Article: RealClear Energy (May 25, 2020)