MIT report on shale gas
Posted: June 26, 2011
Major conclusions of the Future of Natural Gas report:
- “There are abundant supplies of natural gas in the world, and many of these supplies can be developed and produced at relatively low cost.”
- “The role of natural gas in the world is likely to continue to expand under almost all circumstances, as a result of its availability, its utility and its comparatively low cost.”
- Natural gas is “one of the most cost-effective means by which to maintain energy supplies while reducing CO2 emissions.”
In conclusion, it is clear that oil and gas development is not without risk to the natural environment. State and Federal regulations are designed to mitigate those risks. However, though not the result of risks inherent to the fracturing of shale gas wells, operational errors and poor drilling practice do result in a significant number of incidents. Implementation of the recommendations described above, together with rigorous enforcement of all applicable regulations, should reduce the number of incidents and ensure that shale development can proceed with minimum impact on the environment.
Here is a graph that says it all: