Natural gas is replacing coal generation — the dirtiest form of electricity. Until it finishes the job — internationally — it is vital to reaching net zero.
Democratic presidential nominee Kamala Harris emphasizes that her administration would prioritize combating climate change. Notably, she also points out that natural gas plays a vital role in the energy transition, a perspective she believes shouldn’t alienate her more progressive supporters.
This issue may be front and center at Tuesday’s debate.
Natural gas is often seen as the cleanest burning fossil fuel, commonly replacing coal, which emits twice the amount of CO2. Additionally, natural gas complements renewable energy sources, as modern gas generators can quickly ramp up electricity production when solar or wind power falls short. The U.S. also sends natural gas to Europe, which uses it as a substitute for Russian gas—a fuel that can wean some of our international partners from coal.
“We are in a comfortable place,” says David Greely, chief economist at the Abaxx Exchange. “If you look at U.S. natural gas prices right now, we’re paying $2 to $3 per MMbtu even priced out the curve through the winter. Europe is paying $11, and Asia is paying $14 to $15. On an energy equivalent basis, that’s like having oil at around $15 a barrel.”
While the conversation in this country centers on decarbonizing the power and transport sectors, the discussion in developing countries focuses on clean and cheap access to power. If the United States can ship natural gas to these countries as liquefied natural gas, they can use it to replace coal generation. “That cuts the emissions from power generation from coal to gas in half.
“They are looking for ways to get off coal», adds Greely, “LNG is a great way to do that because it can bring gas into places without pipeline infrastructure. That is why natural gas will be around for a long time. We must get rid of coal first because it emits more CO2 than other fossil fuels. And today, we use more coal globally than ever. Then you get off petroleum. And gas is the last one you will want to give up because it is the cleanest burning.”
Greely’s comments came during a virtual press event hosted by the United States Energy Association, where I was a panelist.Partnering With Renewables
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