With global demand up over 40% over the past decade, natural gas is clearly a destination fuel. Gas will remain the centerpiece of a strategy to grow economies, lift human development, and lower emissions. So how did this week's Climate Week in NYC miss this?
, and gas has extended its share of U.S. electricity from 21% to 38%. Unfortunately, Climate Week ignored the reality that IEA has gas demand actually rising under its Sustainable Development Scenario that is fully aligned with the global Paris Agreement for climate signed in December 2015.
Gas usage is being encouraged all over the globe: when combusted, gas emits 50% less CO2 than coal and 30% less than oil. In fact, those even pushing for a politically unpopular carbon tax must know that gas displacing coal in power and gas displacing oil in transport explains why gas usage even increases under anti-carbon policies.to 750 Mtoe and 3,500 Mtoe respectively. By comparison, oil demand is up 16%, with coal up 9%.
So staying pragmatic, even these lofty expectations for gas might ultimately be proven too low if wind and solar do not deliver as promised. From less “sweet spots” available to battery issues to
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