A Quote by Warren Stephens
One of the industries we follow very closely is the trucking industry. They would love if today there was an option for them to run their fleets on natural gas, because of the price disparity between oil and refined diesel - which they almost exclusively run on now - and natural gas.
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Relative to oil, however, natural gas is very cheap and very attractive. And I think that natural gas in emerging markets is very attractive. There is very little natural gas infrastructure in places such as China, where there is tremendous demand for natural gas.
Natural gas will displace coal in power generation. Getting natural gas into the transportation fleet is harder. It works best for vehicles that work from centralized fueling facilities like trucking fleets or buses and cabs. That is happening. Before it can make big inroads beyond that, infrastructure is going to need to be developed.
Today, natural gas now outstrips coal as the leading provider of electricity in America. If this is as big as people believe it is, natural gas will soon be powering trucks and marine ships. Maybe even standard commercial cars that people use at home through compressed natural gas, other gas to liquids. The potential is there for more energy independence by America and a reliance on cleaner fuel - natural gas emits half as much as coal, in terms of carbon emissions. That's a real bounty.
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.
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.
...the era of cheap oil and natural gas is coming to a crashing end, with global oil production projected to peak in 2010 and North American natural gas extraction rates already in decline. These events will have enormous implications for America's petroleum-dependent food system
Natural gas is the best transportation fuel. It's better than gasoline or diesel. It's cleaner, it's cheaper, and it's domestic. Natural gas is 97 percent domestic fuel, North America.
Not only are utilities switching from coal and oil to gas, but also trucking, schoolbuses, garbage trucks, and even taxi fleets.
We are importing Russian natural gas which is not produced in an environmentally conscious manner. If the states that are blocking the pipelines were truly concerned about the environment, they would look to where the natural gas would be coming from.
Compared to coal, which generates almost half the electricity in the United States, natural gas is indeed a cleaner, less polluting fuel. But compared to, say, solar, it's filthy. And of course there is nothing renewable about natural gas.
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.
I was very bearish on natural gas for many years, pretty much from 2006 on. There was a tremendous natural gas bubble in the United States.
I was born in Siberia, which supplies nearly 80 percent of Russia's oil and natural gas resources, so I've always been aware of how big a pollutant that industry is. But it was a huge wake-up call to learn that the fashion industry is the second-largest polluter after oil.
We do have serious energy needs for the country, we are aware that natural gas is especially in demand because of its air quality benefits: 90 percent of new power plants have been natural gas-powered.
The gulf coast, we all know now, after Katrina, is responsible for 25 percent of U.S. production of natural gas. Following Katrina and Rita, almost 75 percent of the natural gas production in the gulf was shut down and not producing.
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.
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