Consumption of Natural gas to generate electricity increases, trade group takes on shale gas reports

Usage of Natural Gas in 2010 to generate electricity was higher by 38% than that in 2001, while it was greater this year, about seven billion cubic feet per day more than 2010, reports U.S. Energy Information Administration on Wednesday.

According to ETA, many factors including approximately 237 gigawatts of natural gas-fired power creation ability between 2000 and 2010 contribute to the augmentation. Nation’s largest trade group for Oil and Gas companies had a talk about the potential of shale gas after New York Times reports questioned the abundant supplies as portrayed by the industry.

The chief economist of the American Petroleum Institute, John Felmy quoted that natural gas obtained from shale formations could trigger 40% of all domestic natural gas production by 2020. He also added that United States would achieve the status of Saudi Arabia in the coming days of tomorrow’s energy.

As a result of newspapers’ reports, two Democratic congressmen have asked the Securities and Exchange Commission and the Energy Information Administration to verify the reserves of natural gas estimated by industry.

Rep. Ed Markey, D-Mass., said last week that it is important for us to know if natural gas underneath the surface is real source of the energy for next generation or if it is just an exaggeration created by Oil and Gas Industry.

Felmy also added that the studies accompanied with actual generation, prove the enormous quantity of shale gas.

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