Monday, June 06, 2011
Dow Jones Newswires
by John Biers
Natural gas could be entering a "golden age" and represent a much larger portion of the global energy mix, but the fuel is still a fossil fuel and doesn't represent a panacea for climate change, the International Energy Agency said Monday.
The IEA, which represents the governments of consuming countries, said natural gas could rise by more than 50% from 2010 levels and account for more than a quarter of global energy demand by 2035. The estimates follow a recent surge of shale gas production in the U.S., which has significantly altered the energy picture in recent years in the U.S.
But the IEA cautioned that while an increased use of natural gas could boost energy security, it shouldn't overwhelm other energy forms that could be better in addressing climate change. IEA Executive Director Nobuo Tanaka expressed concern that governments over react against nuclear energy following the recent Japan crisis.
"While natural gas is the 'cleanest' fossil fuel, it is still a fossil fuel," Tanaka said. "Its increased use could muscle out low-carbon fuels, such as renewables and nuclear - particularly in the wake of the incident at Fukushima and the likelihood of a reduced role for nuclear in some countries. An expansion of gas use alone is no panacea for climate change," he said.
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