We are in the Age of Natural gas! Natural gas appears likely to supplant coal as the world’s second biggest energy source—after crude oil—by 2025. Demand for gas will grow by about 65% through 2040, with 20% of worldwide production occurring in North America, supported by growing supplies from shale and other unconventional sources.
Today, the world consumes some 25 times the energy it used 200 years ago. It took over 100 years from the first oil well’s discovery until oil became the world’s No. 1 energy source. Natural gas is poised to surge as modern renewables also grow.
I predict that North America will change to a net energy exporter from an importer by 2025 and half of the growth in unconventional gas supplies will take place in North America, providing a foundation for strong US economic growth with solid contributions from the energy, chemical, steel, and manufacturing industries.