The pros and cons of coal, oil and natural gas -The relative CO2 emissions of each fuel.
Former Louisiana governor Charles Roemer announced a proposal to export liquefied natural gas from the U.S., this at a time when falling prices and faltering demand, both at home and abroad, jeopardize the sustainability of similar, and much better established, ventures.
Roemer, the chairman of G2 LNG based in Baton Rouge, believes the lagging industry is poised for a move. Roemer says while there are many companies in the same business ahead of them, there are also dozen of more startups behind them, which he believes is a signal of an impending industry takeoff. G2 LNG has initiated a project worth almost $11 billion, making it one of the largest energy undertakings ever in Louisiana. The project is expected to produce over 670 billion cubic feet LNG, exported annually to China, India, Europe and the Caribbean.
However, many energy experts, such as the International Energy Agency, warn that many national and overseas markets won’t be unable to absorb all the capacity of the proposed plants. Still, Roemer, who is also a banker, believes with the amount of gas reserves some energy analysts aren’t accurately predicting the long-term world-wide potential, especially with global concerns of climate change and realizing natural gas is a much cleaner-burning fuel than either oil of coal.
Roemer believes LNG is the fuel of the future and will replace coal completely and eventually become a global threat to the longstanding oil empire. Moreover, Roemer believes U.S. produced natural gas consumption will become increasingly attractive against LNG from many of the world’s less-stable regions, such as the Middle East and Russia.
Unlike suppliers in other countries, Roemer says the one thing that is so attractive about the U.S. natural gas is its production and delivery dependability and consistency. Roemer says other countries know that when businesses in the U.S. make a deal they honor it, and a promise made in America is a powerful tool when exporting overseas. G2 LNG is expected to be well positioned by the start of 2020 to start shipping gas.