Benefits of Natural Gas Natural Gas Improves the Economy Greater natural gas production, transportation, and consumption will help to lead the country's economic recovery because it will help to keep manufacturing domestic which, in turn, will create more jobs, reduce fuel costs which and then reduce cost of goods. One proven way to reduce emissions and still meet consumer demand is by switching to natural gas-sourced electricity. Economy Natural Gas is Good for the Economy Learn about the beneficial effects that natural gas has on local economy and job creation. We are a leader in developing and operating energy infrastructure. And with America still trying to recover from the aftershock of the Great Depression, more jobs are also a necessity. The abundance of clean-burning natural gas in the United States is a source of tremendous economic benefits for our country, directly supporting many thousands of jobs and improving household disposable income, as well as contributing to state and local revenues that support schools and transportation and jobs training programs. Many companies are in the natural gas business, thus creating workplaces for people in their countries and beyond. Benefits of Oil & Natural Gas. This is very important because it leads to lower gasoline and energy costs for the average American. All of these qualities make it a great choice for California's long-term future. ", The U.S. gets most of its LNG imports from Trinidad and Tobago, which accounted for 78 percent of imports in 2015. All Rights Reserved. The transport sector was another avenue of interest. With the omnipresent criticism of natural gas, this take on natural gas is almost original. For more than 40 years, TC Energy has been engaging with Indigenous groups. When Americans spend less on utilities and gasoline, they begin to spend more at their local businesses. However, they consume less energy and produce fewer harmful emissions, thus having a positive effect on business output. Liquefied Natural Gas is an extremely flexible commodity. Today natural gas is one of the most prominent energy sources used to generate electricity, warm homes and cook meals. The DOE says that natural gas consumption is set to hit 26.6 trillion cubic feet by 2035, up from 24.3 trillion cubic feet in 2011. Building bridges, Liquefied natural gas, or LNG, is seen by some as a bridging fuel, but what does that mean? With every new technology, the kinks need to be worked out. Supporting green energy now means we are at the forefront of creating green energy technologies. It's one of the most economical energy resources in the world. By being environmentally friendly, flexible, and efficient, natural gas can save countries millions of dollars while improving their economy. Investing in natural gas production would be continuing our dependance on fossil fuels, which sooner or later is going to run out, or be too bad for the environment that we have to stop use of them completely. Why is natural gas good? "But in order to get there it is difficult today, you can't completely switch your industries to using renewables. Since natural gas can be produced at such cheap costs throughout the United States, it also plays a significant role in improving in our economy. In order to do this, policymakers must fight to maintain certain policiesthat support the continued use of natural gas throughout the United States. TC Energy Corporation announced the release of its 2021 Report on Sustainability, ESG Data Sheet and GHG Emissions Reduction Plan. Oil is one of the most important raw materials we have. Students being the future of the country should always take care of natural resources and the environment. Interesting hearing about the other side everyone is always critiquing this industry, so this is definitely a fresh new take at things that I have not seen more recently. The government has shown a determination to modernise power generation, and provide a reliable supply for all, most recently through policies like Saubhagya. As long as new, safer techniques for fracking are found that do less harm to the environment, I can see why natural gas would become the nations largest energy source by 2030. It also fuels many industrial processes that produce materials and goods ranging from glass to clothing and it is an important ingredient in products such as paints and plastics. There are always two sides to every issue, and I am glad that you explored both sides of the use of oil and natural gas as an energy source within our nation. Natural gas use is increasing First off, the oil and natural gas boom has already created millions of jobs throughout the nation and is expected to create another 1.4 million jobs by the year 2030. Hundreds of businesses, big and small, create an industry that's dedicated to building a better economy and brighter . The advantages you mentioned may outweigh the disadvantages that may soon be solved however. Natural gas extraction is vital to our economy and way of life. By taking advantage of natural gas instead of the rest of fossil fuels, the economy can enjoy tremendous benefits. In addition, it takes around two years to build gas plants, which is seen as being relatively quick, while its share of the global energy mix is increasing at two percent annually until 2020. I do agree with your concept that pursuing American-produced energy sources would provide numerous jobs, economic benefits, and so on. November 9, 2020 Natural gas could be the single most important energy source of the next decade. Got a confidential news tip? Natural gas is an important resource for fueling electric power plants, heating homes, and creating such common goods as plastics. Interesting post! TC Energy strives to be a leader in the delivery of energy in a safe, responsible and sustainable manner, ensuring we are positioned to maximize long-term value creation. Its one of the most economical energy resources in the world. strength at home. As a safety measure, natural gas companies add an odorant to the gas so that people can smell the gas if it is leaking. We recognize Indigenous groups as rights holders who have a distinct relationship to the land. Our scholarships are an easy way to get financial support for school. Oil and gas are also important for the number of jobs they provide. Trellis Energy, oil and gas software provider, 117 pounds of CO2 are produced per 1,000 Btu of natural gas. as harvesting natural gas. Natural gas is a clean and efficient fuel source for generating large volumes of electricity for power grids. According to Trellis Energy, oil and gas software provider, smaller companies are becoming highly active on the market, taking advantage of a variety of tools to achieve their revenue goals. But please dont think that I dont agree with your post at all, because thats not true! Read the latest announcements to cross the wire from TC Energy. ", A range of uses Wood Mackenzie's Chong Zhi Xin went on to tell Sustainable Energy that natural gas had a range of uses. When we cant use them anymore we then have to use foreign technology to support our energy infrastructure. What is natural gas and why is it important? Our goal is for our pipeline and energy facilities to operate safely every day so that the public, our workforce and the environment arent affected by an incident involving our assets. The majority of U.S. gas used today is for heating and generating electricity. TC Energy builds and operates safe and reliable energy infrastructure. When gas prices rise, it can be a drag on the economyimpacting everything from consumer spending to the price of airline tickets to hiring practices. Published Thu, Apr 27 20174:28 AM EDT Updated Thu, Apr 27 20174:28 AM EDT. As the world looks to diversify its energy mix one source, natural gas, is becoming increasingly important. Since natural gas can be produced at such cheap costs throughout the United States, it also plays a significant role in improving in our economy. Natural gas is an important resource for fueling electric power plants, heating homes, and creating such common goods as plastics. Natural gas is natural because it started from organic matter (plants and animals) buried over time below the earths surface millions of years ago. Natural gas is a clean burning fuel, which provides a variety of benefits to the economy and average people. Lets take a look at the main natural gas benefits. The energy boom has reduced the countrys dependence on unstable parts of the world such as the Middle East, and instead has provided the United States with more diplomatic freedom and influence. It also reduces transportation energy costs for numerous organizations. The direct use of natural gas achieves 92% efficiency, far better than any other energy source, and it cuts carbon emissions nearly in half. Natural gas has been and continues to be the most significant contributor to reducing carbon emissions in the U.S., driven in large part by a conversion from coal to natural gas-powered electricity generation. Doing so could provide the jobs you mention as well, and hopefully not have as much of a negative environmental impact. The jobs created in the short term are great but are they worth it economically in the long run? With ongoing advances in drilling technologies, new transport tech is helping liquefied gas at very low temperatures and transporting it in specifically designed containers. But, as long as the government continues making decisions based on economic factors, we can expect to see considerable improvements in our economy throughout the next few decades. Plus, each of these broader operations actually entails many functions. The International Energy Agency (IEA) says that natural gas is viewed "as a good source of electricity supply" for a range of reasons. Especially with the combination of todays economy, international relations, and our growing need for energy supply, focusing on what you talk about here would bring about extremely beneficial results. Save my name, email, and website in this browser for the next time I comment. Next, the natural gas is transported through a large pipeline, known as a transmission pipeline. It also gives the people going into natural gas production a chance to have a job that can be supported throughout their lifetime. The fact that natural gas is produced in the U.S. helps reduce environmental impact and price. The main advantage of natural gas for many economies is its price. It's plain to see: natural gas generates energyand can power generations. Continuing the investment of natural gas technology is also bad because it puts us way behind the rest of the world in energy technologies. Natural gas is the cleanest burning conventional fuel. Developing clean natural gas energy sources, such as renewable natural gas and hydrogen technology, is critical to reducing greenhouse gas emissions and accelerating a sustainable future. The United States is producing and consuming natural gas at record levels, bringing with it an array of economic and strategic advantages in improving U.S. trade and industrial competitiveness, while altering the electric power mix and thus providing for environmental benefits. Why is natural gas important to the United States? With that being said, I understand both the environmental side of the issue and the economic side of the issue. Natural gas is a clean and abundant energy source, and essential to the American economy. Also contributing to high prices are geopolitics, as well as the energy . The former reason is really important because the price of oil is extremely volatile and can severely impacts other prices and wages. The main advantages of natural gas include high efficiency, easy access, and flexibility. Using natural gas to reduce fuel consumption strengthens natural security. The Economic Impacts of the Natural Gas Industry, http://techland.time.com/2013/11/14/the-25-best-inventions-of-the-year-2013/slide/waterless-fracking/. In fact, gas power will almost entirely replace power once supplied by nuclear or coal plants. Natural resources are a renewable source of income and wealth that's essential for sustainable development. The industry creates a variety of jobs for people who find, produce, and deliver it. Natural gas is a cleaner burning fossil fuel than coal or oil, emitting less carbon dioxide into the atmosphere. When burning coal and petroleum products, they emit higher levels if air pollution and carbon dioxide while producing the same amount of energy as natural gas. The situation could turn out to be the same with natural gas production. According to Worldometers, only 52 years of natural gas reserves are left to extract. We aim to leverage the size and scale of our energy network and trading platform to be the most trusted and reliable source of low carbon energy for the North American industrial, natural gas and oil sectors. Sources: https://www.eia.gov/energyexplained/natural-gas/, How petroleum and natural gas were formed, National Energy Education Development Project, US natural gas consumption by sector, 1950 2020, U.S. Energy Information Administration, Learn how things work with Midstream 101. However, the economic side of the issue is one that should seriously be considered as you have proven. I too worry that an opportunity may be missed if negative sentiment regarding natural gas spreads. 1.4 million is a big number and this amount of jobs could provide significant gains. It also reduces our dependence on foreign fuels that are imported from other countries. Fortunately, the natural gas industry has begun the process of decarbonizing the molecule-based share of energy production and consumption in order to achieve climate change targets. Our community giving program, Build Strong, invests in organizations that are integral to local communities, and our business. The coal industry is in terminal decline. linkedin As these environmentalist groups become more active and gain more attention in the media, they are also shifting the views of policymakers. We cool natural gas to liquid for easy shipping to energy-hungry places, and we convert it to make lower-emission fuels and other products. The major question for the government, though, is which side of the issue is more important to support? According to the IEA, natural gas is seen as "lower carbon" relative to other fossil fuels. In most areas, natural gas can cost much less than electricity to heat your home and the water you use. 2022 CNBC LLC. Our nation is still recovering from the Great Recession, and the creation of many new jobs will benefit our economy greatly. The problem with natural gas is its storing: the volume of the gas needs bigger storage places, which are costly to maintain. How to Get Work in the USA If You Live Abroad? Tens of thousands of people work in the oil and gas industry. I agree in that I dont think that we should be ignoring the natural gas industry like environmental activists are trying to get us to do, because its a huge industry! This makes India third biggest oil importer after USA and China. Safety is, and always will be, our number one value. These technologies can also benefit the economy because if ours become advanced enough, other countries will begin to want to use them, and we could sell it to them. The math is simple: Big banks are fleeing oil. Globally, coal continues to supply over one-third of electricity generation and is widely used in the iron and steel industrial sector. I cant help but wonder if America will lose yet another opportunity to those who put more weight in smaller problems that may simply be resolved concurrently of exploiting such an opportunity. MANILA, Philippines - In 2017 . But if there is only a finite amount, then I think we should focus more on developing other types of energy. Besides reliability, the gass availability is also widening. The Benefits: Why Do We Do It? 2. In 2020, the U.S. consumed about 30.5 trillion cubic of natural gas, which is about six times more than what was used in 1950, according to the U.S. Energy Information Administration. The energy boom has reduced the countrys dependence on unstable parts of the world such as the Middle East, and instead has provided the United States with more diplomatic freedom and influence. Whether we are providing grants to organizations, awarding scholarships to students or sponsoring a local event that brings community members together, our goal is to help build strong, vibrant communities through mutually beneficial relationships. The natural gas boom creates many entry-level jobs such as drilling, pipeline, and distribution jobs in addition to various advanced positions, such as engineers. For example, the oil industry has created jobs for many people and generates profits that enable governments to provide services such as education and health care to their citizens. The industry is making steady progress in carbon capture, utilization and storage (CCUS) technologies, as well as renewable natural gas (RNG), responsibly sourced . Is It Possible To Quit Habituation By Your Own? If the wind isnt strong enough or the sun doesnt shine regularly, the energy supply goes down. To watch part two of this . Share. Youll learn how gas is gathered, to how its processed and compressed, along with how [], In the event of an emergency involving a Williams asset, please contact call: 855-945-5762, which is about six times more than what was used in 1950, https://www.eia.gov/energyexplained/natural-gas/. It provides warmth for cooking and heating and it fuels power stations that provide electricity to homes and businesses. Vehicles that run on natural gas have the same capabilities as those that use other fossil fuels. Although engineers make up a small percentage of the industrys overall employment, they are still vital to the countrys natural gas production. The liquefied natural gas can then be returned to the initial state at specifically equipped local terminals. Through Empower, our workforce giving program, we support and encourage our workforce to give back to their communities in ways that resonate with them personally, through fundraising, donating, volunteering, or even simple acts of kindness that help make the world a better place. I understand you are just presenting a counter argument to your original post, I just dont think it is economically feasible or worth it in the long run. Look at the coal towns of West Virginia, they are some of the poorest areas in our country and they keep getting worse. A big disadvantage is that it is not renewable. Downsizing, One way to transport natural gas is by cooling it and turning it into liquefied natural gas, or LNG. Besides being beneficial for everyday life, natural gas contributes to employment opportunities. Midstream 101 is an educational look at Williams operations. In my previous blog post, I criticized the Unites States dependence on oil and natural gas due to the harmful environmental factors of such energy sources. That being said, however, I dont know if I agree with what you said about the production of natural gas itself- I was not aware that it could be so easily produced, I thought that there was a finite amount under the Earths surface, and that once its depleted, its gone. This years 2021 Report on Sustainability builds on our sustainability strategy, establishing clear metrics and targets for all our commitments, to turn our goals into action and advance our progress in protecting our planet and empowering people to support a shared prosperity. It means homes, businesses, cities, manufacturers and others rely on natural gas every single day. In addition to the new jobs, our ability to domestically provide all but 4% of our own energy is great for the economy as it will reduce costs that would rise due to importing energy. Our diversified and irreplaceable portfolio of high-quality, long-life energy infrastructure assets continue to produce strong results. And it's estimated that our nation has enough natural gas to meet our ever-growing energy needs for the next 100 years. It produces fewer greenhouse gas emissions than oil and coal. By 2040, in the USA, households are expected to save about $665 per year on energy bills thanks to the rising popularity of natural gas. This week, I chose to discuss the other side of the debate on oil and natural gas, how it benefits us and our country. The main advantages of natural gas include high efficiency, easy access, and flexibility. As the Philippines looks to diversify its energy mix, one source - natural gas - has become increasingly important. Now with close to 800 scholarships available across Canada, the U.S. and Mexico, you could receive a scholarship valued at up to $5,000. Unfortunately, numerous environmentalists are constantly criticizing and arguing against the use of fossil fuels such as oil and natural gas. Natural gas is one of the most important tools available today in reducing greenhouse gas emissions because it is a clean-burning and extremely efficient source of energy. Thus, the importance of natural resources, especially in development, is essential and undeniable. "It's all about really moving away from dirty fossil fuels and into clean renewable energy," Chong Zhi Xin, principal analyst at Wood Mackenzie, told CNBC's Sustainable Energy. No matter which side the issue is viewed from, there are both benefits and disadvantages. Throwing a spanner in the works, in November last year, the Grattan Institute released a report, Flame out: the future of natural gas, which found that the role of natural gas as an energy source for homes and industries will inevitably decline over the coming years, and industry and government need to be ready for this reality. With a desperate need for jobs and increased national security, the use of natural gas has significant advantages that arent as superficial as, say, stimulating green energy startups in California simply to appear to be fostering cool, new solutions to the very real problem of energy extraction. : //www.socalgas.com/sustainability/benefits-of-natural-gas/economy '' > < /a > natural gas less energy and produce fewer harmful,! Negative sentiment regarding natural gas to liquid for easy shipping to energy-hungry places, which should not be.! 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