Note last paragraphFracking and coal change global equation10...

Note last paragraph

Fracking and coal change global equation

10 hours 27 minutes agohits: 43




One of the most arresting images of the year so far was the view from outer space of gas being flared from oil fracking operations in North Dakota. Apparently, gas is now so cheap in the US that it pays to get rid of it just by flaring rather than building a pipeline network to convey it to consumers.

As per report which first published the picture, said a rapid increase in fracking has made the US one of the world’s worst countries for gas flaring. The volume of gas flared has tripled in just 5 years and is now fifth highest in the world, behind Russia, Nigeria, Iran and Iraq.

The shale revolution in hydraulic fracturing (fracking) not only holds out serious prospects that the US will achieve energy independence, free from dependence on imports from the Middle East but has also put paid to peak oil the idea that global oil production has already peaked, meaning that prices can only go up.

The use of fossil fuels coal, oil and gas continues to increase, pushing carbon dioxide emissions to record levels. According to Greenpeace fracking in the US as well as massive coal expansion in Australia, China and Indonesia, Canadian tar sands and Caspian Sea gas would increase CO2 emissions by 6 gigatonnes.

Modelling by Ecofys for a Greenpeace report, The Point of No Return found that the yearly emissions from these projects will be higher than the total US emissions and will lock in catastrophic global warming. If they all went ahead as planned, there would be no chance of limiting global warming to 2 degrees.

According to the International Energy Agency, coal, the most damaging fossil fuel in terms of emissions will come close to surpassing oil as the world’s top energy source. It expects the production of coal to increase in every region of the world apart from the US where it is being pushed out by natural gas from fracking.