HP Viewpoint: Opportunities of abundance: How shale gas changes the energy landscape
Today’s reality is that the US has enough natural gas to meet growing demand, allowing the country to focus on domestic uses and export possibilities.
In 2005, the US EIA forecast that US demand for natural gas would be met by importing greater volumes of the fuel in the form of LNG. Specifically, net LNG imports were expected to rise to 10% of consumption in 2010 and to 20% in 2025.
Six years later, however, the data for 2010 indicate that net LNG imports were less than 2% of US natural gas consumption, while domestic production has far exceeded earlier forecasts. These unanticipated changes are the result of new production of natural gas from shale resources, a phenomenon that is changing the energy landscape.
Today, the US has a growing supply of domestic natural gas that can power the country for generations to come. According to t
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