Natural Gas is More Reliable Than Electricity One benefit every homeowner will truly appreciate is the reliability of natural gas. Natural gas is one of the most important tools available today in reducing greenhouse gas emissions because it is a clean-burning and extremely efficient source of energy. 1.4 million is a big number and this amount of jobs could provide significant gains. As the world looks to diversify its energy mix one source, natural gas, is becoming increasingly important. Electricity generated from natural gas, for example, not only powers small devices we use every day like smart phones, but also the networks of computers that keep our society running. The first, renewable resources, are those that are used at a slower rate than they are replaced. The U.S. Energy Information Administration says that, in its liquid state, the volume of natural gas is "about 600 times smaller than its volume in its gaseous state. Transmission pipelines often cross through multiple states, moving the natural gas long distances to get it closer to the end users. Lets take a look at the main natural gas benefits. Also, great news about the jobs that are being created. Economy Natural Gas is Good for the Economy Learn about the beneficial effects that natural gas has on local economy and job creation. Now if there actually is a way to produce natural gases that we use for energy above the surface, then I think I would agree with your post more. But, as long as the government continues making decisions based on economic factors, we can expect to see considerable improvements in our economy throughout the next few decades. Some consumers in the commercial sector also use natural gas as a fuel in combined heat and power systems. Natural gas is an important resource for fueling electric power plants, heating homes, and creating such common goods as plastics. Natural gas has been and continues to be the most significant contributor to reducing carbon emissions in the U.S., driven in large part by a conversion from coal to natural gas-powered electricity generation. Natural gas companies produce natural gas to be used for different needs, from home heating to fueling vehicles. We recognize Indigenous groups as rights holders who have a distinct relationship to the land. Vehicles that run on natural gas have the same capabilities as those that use other fossil fuels. As the world looks to diversify its energy mix one source, natural gas, is becoming increasingly important. Specifically, they create plans that detail how and where drilling should take place and they design the way that oil and natural gas are taken out of the ground. Natural gas is a clean-burning source of energy that is used for heating, cooling, electricity generation, creating indispensable materials (such as steel and concrete) and more. The main issue with the majority of environmentally-friendly solutions like wind and solar energy is poor reliability. TC Energy employees are essential to building and maintaining the vast delivery network of natural gas that helps meet these substantial needs. Did you know that TC Energy meets a quarter of U.S. demand for natural gas? Much new investment is in renewables, especially solar, while coal remains the dominant feedstock. Natural Gas Business: What is It and Why Its So Important For Economy. It also reduces our dependence on foreign fuels that are imported from other countries. Producing more American energy will create new jobs, reduce our dependence on foreign oil, strengthen our national security and raise revenue to help tackle the $16 trillion national debt. The energy boom has reduced the countrys dependence on unstable parts of the world such as the Middle East, and instead has provided the United States with more diplomatic freedom and influence. Developing clean natural gas energy sources, such as renewable natural gas and hydrogen technology, is critical to reducing greenhouse gas emissions and accelerating a sustainable future. The jobs created in the short term are great but are they worth it economically in the long run? Liquefied Natural Gas is an extremely flexible commodity. Check out the above video to learn more about why natural gasand why what we do here at TC Energymatters so much! People are increasingly using natural gas. Natural gas is an important resource for fueling electric power plants, heating homes, and creating such common goods as plastics. When gas prices rise, it can be a drag on the economyimpacting everything from consumer spending to the price of airline tickets to hiring practices. Downsizing, One way to transport natural gas is by cooling it and turning it into liquefied natural gas, or LNG. The coal industry is in terminal decline. In fact, gas power will almost entirely replace power once supplied by nuclear or coal plants. Continuing the investment of natural gas technology is also bad because it puts us way behind the rest of the world in energy technologies. Especially with the combination of todays economy, international relations, and our growing need for energy supply, focusing on what you talk about here would bring about extremely beneficial results. Follow us for news and story ideas. Producing more American energy will create new jobs, reduce our dependence on foreign oil, strengthen our national security and raise revenue to help tackle the $16 trillion national debt. Guided by our values of safety, integrity, collaboration, innovation and responsibility, our leaders ensure that we develop and operate our facilities, safely, reliably and with minimal impact on the environment. To watch part two of this . When Americans spend less on utilities and gasoline, they begin to spend more at their local businesses. I too worry that an opportunity may be missed if negative sentiment regarding natural gas spreads. India relies heavily on oil and gas imports, with 82% dependency for crude oil and 45% for natural gas. ", The U.S. gets most of its LNG imports from Trinidad and Tobago, which accounted for 78 percent of imports in 2015. However, this will only be maintained if our government continues to take advantage of new opportunities to protect U.S. interests abroad and to protect sources ofnew foundstrength at home. Supporting green energy now means we are at the forefront of creating green energy technologies. With ongoing advances in drilling technologies, new transport tech is helping liquefied gas at very low temperatures and transporting it in specifically designed containers. Trellis Energy, oil and gas software provider, 117 pounds of CO2 are produced per 1,000 Btu of natural gas. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. The environmental friendliness of this gas helped it become a prevailing choice for electricity generation in the USA. The transport sector was another avenue of interest. With the omnipresent criticism of natural gas, this take on natural gas is almost original. The final stage is distribution, in which a local natural gas company typically delivers the gas in a network of smaller pipelines to businesses and neighborhoods. I understand you are just presenting a counter argument to your original post, I just dont think it is economically feasible or worth it in the long run. In fact, in 2019, natural gas accounted for 38 percent of total U.S. electricity generation. Why natural gas makes sense for PH economy. Natural gas is clean, affordable, abundant and domestic. Unfortunately, numerous environmentalists are constantly criticizing and arguing against the use of fossil fuels such as oil and natural gas. As a result, we have thousands of employees in this field who are unemployed and have nothing to do until they retrain themselves. However, this will only be maintained if our government continues to take advantage of new opportunities to protect U.S. interests abroad and to protect sources of. Natural gas is a cleaner burning fossil fuel than coal or oil, emitting less carbon dioxide into the atmosphere. Natural gas is much more environmentally friendly than the rest of the fossil fuels are. Is It Possible To Quit Habituation By Your Own? Compared to other fossil fuels available on the market today like coal and oil, its fairly cheap. Invested in Sustainability These include water, wind, and the sun. It also fuels many industrial processes that produce materials and goods ranging from glass to clothing and it is an important ingredient in products such as paints and plastics. TC Energy strives to be a leader in the delivery of energy in a safe, responsible and sustainable manner, ensuring we are positioned to maximize long-term value creation. Hundreds of businesses, big and small, create an industry that's dedicated to building a better economy and brighter . If they continue to significantly affect policy decisions regarding fossil fuel usage and production, Americas oil and natural gas boom could quickly come to an end. It means homes, businesses, cities, manufacturers and others rely on natural gas every single day. Since 2005, the United States has reduced its percentage of imported energy from 30 percent to 16 percent. Whether we are providing grants to organizations, awarding scholarships to students or sponsoring a local event that brings community members together, our goal is to help build strong, vibrant communities through mutually beneficial relationships. Previously, the United States imported a majority of its oil from other areas of the world such as the Middle East, but with the abundance of natural gas available, this is no longer necessary. The Economic Impacts of the Natural Gas Industry, http://techland.time.com/2013/11/14/the-25-best-inventions-of-the-year-2013/slide/waterless-fracking/. Natural gas is a relatively clean burning fossil fuel Burning natural gas for energy results in fewer emissions of nearly all types of air pollutants and carbon dioxide (CO 2) than burning coal or petroleum products to produce an equal amount of energy. All Rights Reserved. In addition, it takes around two years to build gas plants, which is seen as being relatively quick, while its share of the global energy mix is increasing at two percent annually until 2020. Sources: https://www.eia.gov/energyexplained/natural-gas/, How petroleum and natural gas were formed, National Energy Education Development Project, US natural gas consumption by sector, 1950 2020, U.S. Energy Information Administration, Learn how things work with Midstream 101. With every new technology, the kinks need to be worked out. Lower gas and utility prices mean cheaper goods, cheaper shipping, and cheaper transportation altogether. By taking advantage of natural gas instead of the rest of fossil fuels, the economy can enjoy tremendous benefits. What Are The Economic Benefits of LNG Some economic benefits of production and consumption of LNG are, enhancement of economic growth, tax revenue growth, even distribution of natural gas, safe and cheap transportation, easy conversion and regasification, and a greener environment. "It's all about really moving away from dirty fossil fuels and into clean renewable energy," Chong Zhi Xin, principal analyst at Wood Mackenzie, told CNBC's Sustainable Energy. "Natural gas can be used in the power sector, it can also be used in industries for heat generation, it can be used in the fertilizer sector to create ammonia, and lastly it can also be used in the transport sector, as CNG (compressed natural gas), or in LNG for long haul trucks.". There is going to be a point in the future when well be running out of fossil fuels very quickly and then well have to depend on alternative energy. A Division of NBCUniversal. The problem with natural gas is its storing: the volume of the gas needs bigger storage places, which are costly to maintain. Although engineers make up a small percentage of the industrys overall employment, they are still vital to the countrys natural gas production. The main advantages of natural gas include high efficiency, easy access, and flexibility. This is very important because it leads to lower gasoline and energy costs for the average American. Natural gas is a clean and abundant energy source, and essential to the American economy. "So if we look in the past, a lot of base load power really came from coal as well as oil, and we're looking at a future where you're looking at zero carbon emissions from solar, from wind," Xin added. As a safety measure, natural gas companies add an odorant to the gas so that people can smell the gas if it is leaking. The fact that natural gas is produced in the U.S. helps reduce environmental impact and price. Tens of thousands of people work in the oil and gas industry. Our scholarships are an easy way to get financial support for school. For investors who want both profitability and longevity, the natural gas sector is the very first place to look.
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