What Could a Global Shale Gas Revolution Bring?, Natural Gas mini-series three of three

Thus far the United States has been the major beneficiary of shale gas. The rest of the world also has substantial shale gas resources, but there is significant uncertainty whether and how rapidly these resources will be developed. Lower natural gas prices in the United States (US) have significantly reduced US coal use. However, higher natural gas prices in Europe and Asia have led to increased coal use in these regions. Coal is already the major source of energy (as measured by heat content) to the developing world. Current trends suggest that it will soon surpass oil as the major source of heat energy globally. The spread of shale gas technology to other parts of the world will allow these regions to access cheap natural gas and reduce their coal use. However, there are significant legal and regulatory barriers as well as technological barriers to this shale gas development spreading to the rest of the world. This talk will discuss possible futures for the global natural gas and coal markets and the greenhouse gas implications of these futures.

Speakers: Frank Wolak, Stanford; Mark C. Thurber, Stanford