Research And Development Is Key
Ken Costello serves as principal researcher for energy and environment at the National Regulatory Research Institute. He previously worked for the Illinois Commerce Commission, the Argonne National Laboratory, Commonwealth Edison Company, and as an independent consultant. Contact him at kcostello@nrri.org.
The U.S. natural gas industry has had a great run over the past eight years. It has helped the economy by creating new jobs and significantly reducing energy bills for households and businesses. This was particularly important during the Great Recession, when a boost from that major industry prevented a further downward spiral of the economy.
Natural gas also benefited the environment by accelerating the retirement of coal plants. The shift from coal to natural gas pushed down U.S. energy-related carbon dioxide emissions by twelve percent over the period 2005-2015.
Even accounting for methane emissions, the most credible studies show that switching from coal to natural gas would mitigate global warming. Besides, natural gas emits fewer air pollutants than coal - pollutants such as sulfur dioxide, mercury and nitrogen oxide.
And, the U.S. expects to be a net exporter of natural gas, which will reduce our trade deficits. At the beginning of this decade, we worried that we would be importing increasing amounts of natural gas from vulnerable areas of the world.