Natural Gas Now Least Expensive Way to Generate Electricity
Jack Kelly had an excellent column in Sunday’s Pittsburgh Post-Gazette. It starts out with a brief history of the discovery of oil in the U.S. and moves to shale gas and points out that shale gas is an even bigger game changer than oil was. Did you know that natural gas is now the cheapest way of generating electricity?! Renewable sources like wind cost 1.5 times more, and solar costs 3.3 times more to produce the same megawatt of electricity as natural gas.
Among Jack’s observations:
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One of the arguments in favor of shale gas drilling is that it will create more supply leading to lower prices for consumers (that’s Economics 101 for the Occupy economic illiterates). Those opposed to drilling scoff and say it won’t happen, that the big, bad energy companies will rig the system to keep prices, and profits, high. Here’s a dose of reality for those who scoff:
An editorial in yesterday’s New York Post says that New York DEC Commissioner Joe Martens is leading a mutiny against Gov. Andrew Cuomo on the matter of allowing hydraulic fracturing to move forward in the state and asks the question, Is Gov. Cuomo up to the task of putting down the mutiny? Good question!