Townhall.com is reporting today on the recent changes that have occurred in the natural gas market. Because major sources of natural gas are being discovered in America, the price of natural gas is at a seven-year low. Natural gas burns cleaner than coal and can be used to generate electricity and eventually to power cars.
Although natural gas is a carbon-based fuel, it is a clean fuel that is in abundant supply in America. The article points out:
"Today, about 27 percent of the nation's carbon dioxide emissions come from coal-fired power plants, which generate 44 percent of the electricity used in the U.S. Just under 25 percent of power comes from burning natural gas, more than double its share a decade ago but still with room to grow."
In the past, the problem with natural gas was that the supply was uncertain and caused the price to vary a great deal.
Last Monday, Exxon Mobil Corporation announced a $30 billion deal to acquire XTO Energy Inc. This will make Exxon the country's largest producer of natural gas.
Natural gas is low cost, low carbon emissions, and abundant in America. This could seriously change the world energy picture and world politics.
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