One of the most important conversations going on in the world now has to do with the natural gas supply. Administration changes, new climate research, and a limited supply of fossil fuels are sparking worldwide concern over the natural gas supply, biodiesel fuel oil prices, and the future of the entire planet.
Natural gas has seen a major growth over the years, and now accounts for 21% of the entire global primary fuel consumption. Natural gas even comprises nearly one-fourth of all primary energy used inside the United States. It’s contributing to both energy and jobs, too, as the natural gas industry supports the employment of nearly 3 million U.S. citizens.
In addition to its economic benefits, natural gas, though funding for efficiency programs, has helped save 175 trillion Btu (British thermal units) of energy and offset 9.1 metric tons of CO2 (Carbon Dioxide) emissions in 2014.
Because of the importance of energy, on an international and domestic scale, we should stay up-to-date on what’s going on in the natural gas industry.
According to the U.S. Energy Information Administration, as of June 1, 2017, average cost per million Btu for natural gas in the U.S. is about 2.49. The Midwest saw the highest price at 2.85, followed by the Southwest (2.62), Northwest (2.50), and the Mid-Atlantic coming in at 2.00.
Hopefully more people will continue to utilize this helpful source of energy and both the residential and commercial natural gas prices remain at affordable and reasonable levels.
Natural gas actually produces less than half the CO2 emissions that coal exudes when it’s burned. Also, when natural gas is burned to energize homes or for commercial use inside warehouses, it releases between 25% and 30% less CO2 than oil and nearly half (between 40% and 50%) less than coal per unit of energy produced.
It’s up to us to not only make the switch to more environmentally friendly forms of energy, but to keep an eye on the global and domestic natural gas supply. Continue to do your part in any way you can and contact Bollinger Energy Corporation today if you want to learn more.