Last summer this blog featured a series of posts predicting the ability to tap enormous new shale gas reserves through fracking and horizontal drilling would positively impact the geopolitical chess board from the perspective of the US and Western Europe. The blog post excerpted and linked below demonstrates the reality of those predictions.
Firms interested in positively impacting sustainability would be well served by engaging the energy sector in a substantive conversation regarding the value added through the intelligent and effective use of IPD, BIM and lean processes. Increasing the efficiency with which energy resources are extracted, transported, refined and consumed will do more to preserve and protect the environment and reduce carbon emissions than a million Solyndra style boondoggles.
Gazprom supplied 27 percent of Europe’s natural gas in 2011. While American gas is trading below $2 per MMBTU (million British thermal units), Gazprom’s prices are tied to crude oil markets, and its long-term contracts charge customers roughly $13 per MMBTU, says the FT. European customers would love to reduce their dependence on Gazprom and start to import American gas.
Shale Gas from North America Crimping Russia's Style
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