Future of energy in natural gas

Oct. 28, 2003
By 2020, natural gas will make up about 50% of the world energy cocktail. Oil, solar, wind, and nuclear power combined will fill out the picture, Christine Ehlig-Economides, director of the University of Houston's petroleum engineering program, told attendees at the Louisiana Gulf Coast Oil Exposition in Lafayette, Louisiana.

By 2020, natural gas will make up about 50% of the world energy cocktail. Oil, solar, wind, and nuclear power combined will fill out the picture, Christine Ehlig-Economides, director of the University of Houston's petroleum engineering program, told attendees at the Louisiana Gulf Coast Oil Exposition in Lafayette, Louisiana.

That natural gas will come from a number of sources, she said.

"If we really move to a natural gas world, Russia's going to be a good part of that," she said.

As China grows, it'll demand a share of that supply, and a lack of energy could cripple the Chinese economy, she added. The country is seeking the same energy sources as the US, and it is investigating nuclear energy, she said, urging the oil and gas industry to provide China with technology solutions to avoid spurring global competition and a new cold war. China is on track to be the first country to massively use hydrogen to power cars and nuclear sources for stationary energy, Ehlig-Economides said.

"They may help the world move to new energy solutions," she said.

But the focus on natural gas shouldn't outshine oil, she said, as oil reserves will continue to play a supporting role in the energy picture.

"Deepwater is an important story for the US," she said.

While there are concerns that oil has peaked, Ehlig-Economides said even if oil has peaked, there will still be spikes in reserve levels as more discoveries are made.

"Oil will peak because it gets replaced with natural gas," she said. "Coal has peaked, but we're not out of coal."

10/28/03