High Natural Gas Prices Essay

559 words - 2 pages

High Natural Gas Prices"Natural gas seasonal prices staying high" is the title of an article written by Josef Hebert from the Associated Press on June 8, 2004. The article discusses the amount of natural gas stored in the United States as well as the growing demand of natural gas and how the pricing will stay high throughout the summer months of 2004.Natural gas has thousands of uses approximately 23 percent of the energy consumption of the United States is from natural gas. More than one-half of the homes in the United States use natural gas as their main heating fuel. Over 61.9 million homes use natural gas to fuel stoves, furnaces, water heaters, clothes dryers, as well as other household appliances (Energy Information Agency www.eia.doe.gov). The essential raw material for many common products is natural gas; these products include explosives, medicines, photographic film, dyes, antifreeze, plastics, fertilizer, and paints. Natural gas is also used to produce steel, glass, paper, clothing, brick, electricity and list could go on the World industry depends on natural gas. Because of the wide usage of natural gas when the prices fluctuate it affects all of us (Energy Information Agency www.eia.doe.gov).In the year 2000, the United States natural gas consumption reached 22.6 trillion cubic feet and has continually risen since that year. In the year 2000 the consumption of natural gas in the electric utility and industrial sectors moved in opposite directions. Industrial consumption was 9.5 trillion cubic feet of natural gas while the electric utilities consumption of natural gas was 3.0 trillion cubic feet. It is estimated that by the year 2020,...

Find Another Essay On High Natural Gas Prices

Resolved that Fracking for Natural Gas from Shale Formations Will Be Banned in the US

2543 words - 11 pages Definition of Terms According to the U.S. Environmental Protection Agency (EPA), Fracking, or Hydraulic Fracturing is a method used to extract underground resources including oil, natural gas, and geothermal energy by injecting high pressure fluid into a geologic formation containing oil or natural gas deposits. The high pressure fluid opens up existing fractures and creates new fracture systems that allow the resources that were once trapped to

Fracking for natural gas Essay

876 words - 4 pages selling list. Like in past recessions, the first thing to cause economic turmoil is the high gasoline prices raised by the Organization of Petroleum Exporting Countries (OPEC). This small group of leaders set the price of gas as high as they possibly can and kill economic prosperity with their insanely high prices. With natural gas, we can set our own prices and not have to be burdened with dictators of foreign lands, whose goal mission is The

Natural Gas Market Evolution in US

3098 words - 13 pages Regulatory Commission (FERC) (previously FPC)4. With more reliable regulatory frame work, long term contract were signed and investments started flowing in natural gas exploration. Post 1978, prices increased drastically due to which demand decreased (as shown in figure 2). There was a drastic change in dynamics of the gas Market from high demand low supply to low demand high supply. With less flow of gas and pipeline companies being major off

Energy Resource: Natural Gas and Solar Energy

1574 words - 7 pages gas is methane together with some of ethane, propane, butane, and other gases, Methane is a potent greenhouse gas, and Ethane is colorless and odorless. Natural gas is used as fuel and in the making of organic compounds. Natural gas is also highly flammable. (The American Heritage Dictionary, 2009) Natural gas is extracted by Hydraulic Fracturing. Hydraulic Fracturing is the use of sand, water, and chemicals injected at high pressures to blast

Unconventional Gas Production

2195 words - 9 pages importantly the rapid increases in prices of natural gas. Shale Gas Technologies Horizontal/Directional Drilling First drill in Texas in the 1930’s and the technology has developed to become an industry standard practice. The horizontal drilling can reduce the environmental impact footprint and significantly reduce the number wells pads, pipeline routes, access roads and production facilities required. The horizontal drilling is achieved by

Untitled

1355 words - 5 pages would be approximately $0.90 to $1.30. Unleaded gasoline prices are currently well above this prediction all over the country.2. Safe Transportation Fuel: · One reason it is safer to transport is that natural gas will not spill to the ground and create pools of explosive gasoline. Natural gas will flow into the air and disappear into the atmosphere.· Another safer transportation factor would have to be that natural gas will not burn at

Water management in unconventional oil and gas development – The issues and their optimization

789 words - 4 pages Introduction The U.S. natural gas industry, and by extension the industry globally has borne witness to tremendous change over the past decade. During this period, U.S. natural gas production levels have risen from a twenty year low of 18 Tcf (510 Bcm ) in 2005, to an all-time high of 24 Tcf (680 Bcm) in 2012 . At the same time, natural gas prices have fallen to levels not seen since the period immediately following the U.S. gas market

Shale gas

3722 words - 15 pages drilling, there were plenty of drill core data publicly available to allow explorers to find the ‘sweet spots’ on the plays. 3. The shale gas had a high liquids content, which greatly enhanced the economics of the operations, especially at a time when gas prices were low. 2. RESEARCH 1. In 1982 the US government began extensive funding of R&D by the Gas Technology Institute into ‘low permeability hydrocarbon bearing formations’. The results were

Earth and Natural Gas

2332 words - 10 pages compressed by the earth under high pressures over millions of years. The reason fossil fuels are considered non-renewable energy sources is because it takes millions of years to form and thus will not be a usable energy source when it reserves are depleted. According to International Energy Agency (IEA) (2014) there is approximately 190 trillion cubic (tcm) metres natural gas worldwide that has been found. However that is only a small amount of natural

Fuel Efficiency in the United States

1032 words - 4 pages that don't require any gasoline would be very efficient in today’s society. Despite the increase of pollution and high gas prices, gases are used for everything and give us the ability to run corporations, motor vehicles and heat. This is why gas is precious because it is use for majority of the thing that we use today. While gas is essential there are steps that should be taken to reduce our dependence on it . Gas in today’s society is some

The Future of Liquefied Natural Gas

861 words - 4 pages energy industry and the global economy. Also, through the condensing of natural gas, many impurities are removed. Therefore, this process gives the nations importing natural gas in liquid form a product with a high percentage of methane which is the preferred when it comes to producing energy. So, the increasing usage of LNG for the transportation of natural gas is allowing nations with energy production problems to obtain an energy producing fuel that is very potent when it comes to producing energy. Thus, LNG is a key to satisfying the global demand for natural gas in the world along with increasing global economic activity.

Similar Essays

The Effects Of High Gas Prices

655 words - 3 pages our economy, people should understand that the high gas price does not only mean people need to pay more for driving their cars, but it also leads the pervasive inflation, the change of people's consumption habits, and more seriously, the recession of the global economy.First of all, the rising prices of gas, a critical input in almost all production processes, will trigger the price hikes of most consumer and industry products: the inflation

Todays Rising Gas Prices Essay

931 words - 4 pages Today's Rising Gas Prices At some point in everyone’s lives, we are affected by the rising gas prices in today’s economy. Natural gas is not a renewable resource, since there is a fixed amount of it trapped in the Earth. However, many people carry the misconception that there is a very limited amount of natural gas, and that we may use all of it up. This isn’t true. The gas shortages of the 1970's were prompted by the government’s lack of

Natural Gas And Its Use As A Alternative Fuel Compared To Gasoline

1416 words - 6 pages bigger tanks in your car or face having to tow your car to the nearest natural gas station could be miles away. Despite the negative aspects toward natural gas, the prices are stable, and it it easy to predict long-term costs. This advantage would contribute to the high prices that we pay now for gasoline. (“ How natural gas Vehicles Work”.How stuff works.n.d) Although NGV’s have its downsides, I think it would be the right way to

Th Oil And Natural Gas Industry's Effect On Oklahoma

1034 words - 4 pages preliminary drilling swaged badly, brought forth by the federal controls on wellhead prices of natural gas applied to interstate commerce in the 1950s. By 1982, oil prices hit an all time high of $37.60 per barrel. Furthermore, the number of progressive drilling rigs in Oklahoma also hit a record of 882. The total quantity produced from the soul and natural gas industry in Oklahoma reached about 40 billion dollars in 2007. Also, through the gross