'..cheaper to operate power plants with natural gas.'<blockquote>'The use of fracking has enabled the United States to become the world's largest producer, even larger than Russia. What is currently happening in the United States "represents a potentially decisive shift in the history of energy," says ExxonMobile CEO Rex Tillerson.
The excess supply of gas has caused prices to plunge in the United States. Only four years ago, the price for one million BTU (British Thermal Units), the standard energy unit in the industry, briefly rose to $14. Today the price has dropped to only about $2.
US trucking companies have long since begun converting their fleets from diesel to natural gas. Coal producers are having trouble selling their product, because it's become cheaper to operate power plants with natural gas. It's also better for the environment, given that natural gas emits only half as much CO2 as coal. On the whole, the low price of natural gas in the United States has given the country a significant advantage and attracted foreign investment. After all, prices for natural gas elsewhere are much higher. In Asia, consumers pay up to $16 for a million BTU. In Europe, they range between $6 and $8.'
- Frank Dohmen and Alexander Jung (
Source, May 18, 2012)</blockquote>
Context '..energy production away from nuclear..'<blockquote>
(EU) - European Investment Bank - '..supporting European R&D projects..''The energy storage market is in its infancy..'..Companies Prepare for a Fossil-Free Future - Germany's Hidden Champions'..real people who use their minds to make exchanges in the real world..'</blockquote>