A Quote by Paul Romer
Fracking is an amazing instance of discovery of many things that come together to make it much cheaper to extract oil and gas. In a world where burning oil and gas puts more and more carbon into the atmosphere, it's not actually the most important kind of innovation to have.
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Burning carbon-based substances like oil, gas, and especially coal, produces billions of tons of extra carbon dioxide each year. Methane gas from cows and pigs and other animals on our large farms ends up in the atmosphere as well, trapping more of the sun's energy as heat.
Natural gas emits only half the carbon dioxide of coal when burned, but if methane leaks when oil companies extract it from the ground in a sloppy manner - methane is far more potent a greenhouse gas than carbon dioxide - it can wipe out all the advantages of natural gas over coal.
The transition from coal, oil, and gas to wind, solar, and geothermal energy is well under way. In the old economy, energy was produced by burning something - oil, coal, or natural gas - leading to the carbon emissions that have come to define our economy. The new energy economy harnesses the energy in wind, the energy coming from the sun, and heat from within the earth itself.
In 1979 I teamed up with my friend and business partner, Bill DeWitt, and together we formed an oil and gas company that invested through limited partnerships in oil and gas exploration.
Venezuela has the biggest oil reserves in the world. And the biggest gas reserves in this hemisphere, the eighth in the world. Venezuela was a U.S. oil colony. All of our oil was going up to the north, and the gas was being used by the U.S. and not by us. Now we are diversifying. Our oil is helping the poor.
What is the most entrepreneurial country in the Middle East today? It's Lebanon. Which country has no oil or gas? Lebanon. The same was true of Israel, the same was of Bahrain. You could see a real gradation. Turkey, for instance: no oil and gas, very entrepreneurial. You can either dig your future out of the ground or you can unlock the potential of your people.
We are considering various ways of making use of our oil and gas downstream industries. This is to be complemented with the import of oil and gas from other sources as raw materials.
The development of oil and gas resources depends more on capital than labour, and exporting oil and gas neither generates maximum returns from these precious resources nor creates large numbers of jobs within the local economy. As a result, the benefits are typically not shared broadly across society.
We've recognized that natural gas would be the fastest-growing of the conventional fuels: oil, natural gas, coal. And so, we see the important role that natural gas will play globally and, more importantly, the important role it will play in the U.S. in terms of meeting future energy demand.
My heart breaks living in southern Utah on the edge of America's Redrock Wilderness, witnessing what the Bush Administration's policies regarding oil and gas exploitation are doing to our public lands that belong to all Americans. Their policy is not about the public or the public's best interest. It is about the oil and gas corporations' best interests. The Secretary of the Interior is urging the Bureau of Land Management to support the gas and oil industry's most extreme drilling scenario in some of the American West's most pristine and fragile areas without proper legal and public input.
We want to see oil and gas regulations on a continental basis given the integrated nature of this industry, with the current conditions in the oil and gas sector, this government will not consider unilateral regulation.
Scientists had said, "If you keep burning coal and gas and oil, you will melt the Arctic." And then the Arctic melted just as they had predicted. Did Shell Oil look at the melt and say, "Huh, maybe we should go into the solar-panel business instead?" No, Shell Oil looked at that and said, "Oh, well, now that it's melted it will be easier to drill for more oil up there." That's enough to make you doubt about the big brain being a good adaptation.
There's no question that natural gas is a lot better than coal or oil, in the sense that natural gas produces less carbon per unit of energy produced.
We have to slow down the emissions of carbon dioxide and methane from coal burning, oil and eventually natural gas... And the best ways to do that are energy efficiency and a switch to renewables.
If you say the world is totally dependent on oil in many parts of the world, coal and certainly natural gas, we are fossil fuel, that is modernity, modernity has two elements: individualism and oil. Now to move toward a more enlightened sustainable world, we have to transform with lots of technology, with even differences in the way we see the world and how we live in the world. That`s going to take decades.
Since 1850, burning of fossil fuels, coal, oil and natural gas has increased 100 times to produce energy as the world has industrialized to serve the world's more than 6 billion and growing population.
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