31 March 2010

Gas use predicted to rise, as will prices

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Global gas use is rising and prices are set to follow, as international perception of the fossil fuels' natural offspring as a "clean" energy leads to elevation of the resource's status

Natural gas has been tipped as a major component of future global energy demand and supply by even the major oil producers, particularly because not all gas is associated with crude oil reserves.

Unlike crude oil, natural gas been spared the worst of criticism heaped on hydrocarbon sources for energy, amid rising sensitivity to possible causes of climate change, because gas is seen likely to take over some of the demand now met by crude oil.

A new global energy outlook published Tuesday by ICF International consulting company said gas demand was set to rise worldwide and higher consumption would likely lead to higher prices.

ICF International said the increase in gas use would occur alongside greater investment going into development of renewable energy sources such as solar power, geothermal and wave energy and biofuels.

(Energy Daily)

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