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Rao argues that the accessibility and vast quantity of natural gas render it the most cost-effective source of energy in the near- to medium-term, evidenced in part by its grabbing power generation market share from coal through natural market forces. Rao maintains that substituting methanol from natural gas in place of gasoline can save consumers nearly one-third of the cost at the pump while reducing carbon dioxide emissions and substantially reducing oil dependency.
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Rao recommends that local governments ensure that communities, rather than solely private industry, realize the benefits of natural gas exploration through either taxes or impact fees on production that would then be fed back into local economies. Although Rao recognizes that natural gas exploitation will inevitably slow down the growth of renewable energy in both the electricity production and transport fuel sectors, he prescribes a number of policy measures, such as local- and state-taxes on high-carbon-footprint oil production, whose revenues could then subsidize exploration of renewables.
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The Promise and Peril of Shale Gas Fracking
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JPT How Thirsty is Shale Gas?
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How will I be contacted by the seller If you have this book go ahead and post it here and your listing will appear for all students at your school who have classes requiring this specific book. How has the state done so far in this early stage in addressing shale gas and the proper way to move forward with it? Are there some other things that we need to do?
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Rao : This is a good point for me to point out that my remarks here are as an individual, not as a member of the [North Carolina] Mining and Energy Commission. So going back to your question, the legislature has given instructions, which I think are pretty comprehensive. This is like Texas outlawing maple tree sap production.
The promises and perils of oil & gas specialization
So I think that allowing fracking is perfectly fine. It does not necessarily mean that even it will happen.
But at any rate, yes, the instruction that the legislature has given, I think is comprehensive and is intended to permit commerce while protecting the environment and the people. Kokai : So those who are concerned about the environmental impacts of fracking should not necessarily think that the vote from the General Assembly has opened the door to environmental degradation?
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Because there are some concerns about that sort of thing, like roads being damaged and so forth. So I believe that, with those three provisos, it is feasible, very feasible, to produce shale gas safely. What does that mean?
That means that we have neighboring states, and a pipeline comes straight down our state. And we could tap into it and have a chemical industry or a fertilizer industry or something which profits from it without our own production.
Having said that, if we did produce it ourselves, then that would have a material advantage. People are not aware that the amount of information currently is really pitiful. Geological Survey] estimates are based on such little data that they put very low probability in that, for the numbers are low.