In the wake of the BP well blowout in the Gulf of Mexico and the attempted terrorist bombing of New York’s Times Square, the broadcast media have been full of the sackcloth and ashes crowd pronouncing once more the end of the hydrocarbon era and the vital need for the U.S. to “break our oil addiction” ASAP.
Their soundbites start with a half-truth and end with a fallacy. We are told that “60 percent of U.S. energy supplies still come from oil and gas,” with the implication that (i) all of that is imported; and (ii) the pittance that we produce domestically all comes from offshore facilities.
It is true that 60 percent (actually 62.5%) of our energy comes from oil and gas. But the portion that comes from natural gas, about 24% of total U.S.…
Among those hoping that global warming is real we should now count the EU. As winter approaches there is, quelle surprise, the initial hint of yet another gas supply crisis between Russia, Ukraine and Russia’s EU customers. The problem is that those pesky pipelines have to go through somewhere to reach the market and that somewhere happens to be the Ukraine (unless it’s Poland, more on that later).
All those red lines running Northeast-to-Southwest carry gas from Russia to the EU countries. There is just no getting around the Ukraine for most of the transits; it is big and (if you are Russian) in the wrong place.
Gas: The Great Green Hope for Europe
As noted previously, gas use in Europe is roughly the same as that of the US, a bit over 20 tcf annually. …