Market for transport fuels in the US will remain subject to diversification

Natural gas and oil from unconventional resource plays, rightly characterized as "revolutionary," will supplement but not necessarily dominate a market for transportation fuel that is likely to remain subject to long-term diversification. Contrary to popular suspicion, moreover, they do no...

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Bibliographic Details
Published in:The Oil & gas journal 2012-10, Vol.110 (10), p.30-30
Main Authors: Lewis, Philip E, Economides, Michael J, Ajao, Omobola
Format: Magazinearticle
Language:English
Subjects:
Alternative energy sources
Biodiesel fuels
Biofuels
Consumption
Electric vehicles
Energy consumption
Energy resources
Ethanol
Gasoline
Natural gas
Oil and gas production
Oil exploration
Oil shale
Population
Prices
Renewable energy
Renewable fuels
Renewable resources
Shales
Subsidies
Vehicles
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Summary:Natural gas and oil from unconventional resource plays, rightly characterized as "revolutionary," will supplement but not necessarily dominate a market for transportation fuel that is likely to remain subject to long-term diversification. Contrary to popular suspicion, moreover, they do not represent existential threats to renewable energy. Recent increases in natural gas production from shale formations around the US have been touted as "revolutionary." Shale oil, while available not quite on the massive scale of shale gas, is complementary. The use of the hackneyed term "revolutionary" for these developments is, for once, appropriate and accurate. Fuels derived from oil and gas will clearly benefit directly from the shale revolution. Many analysts have predicted that alternative and renewable fuels will face headwinds brought on by an abundance of natural gas. Increased oil and gas production and lower prices can boost options for nontraditional energy forms. Oil and gas are in fact major -- probably dominant -- cost components in the production of biofuels.
ISSN:0030-1388
1944-9151