In: Economics
What are the full cost tradeoff issues between coal and natural gas as a source of fuel for electricity?
The main component of natural gas, is also a powerful greenhouse gas, which can be 84 times more potent than carbon dioxide within twenty years. And with so many opportunities for unburnt methane to escape on its way from the wellhead to the power plant, those leaks could offset any benefits from burning natural gas instead of coal. Scientists have just begun to try to measure those leaks. One team of researchers from Carnegie Mellon University in Pittsburgh, spends their days chasing methane plumes.
Burning natural gas for energy results in fewer emissions of nearly all types of air pollutants and carbon dioxide (CO2) than burning coal or petroleum products to produce an equal amount of energy. About 117 pounds of carbon dioxide are produced per million British thermal units (MMBtu) equivalent of natural gas compared with more than 200 pounds of CO2 per MMBtu of coal and more than 160 pounds per MMBtu of distillate fuel oil. The clean burning properties of natural gas have contributed to increased natural gas use for electricity generation and as a transportation fuel for fleet vehicles in the United States.
Many environmentalists say that aside from the emissions question, relying on any new fossil fuel to solve the climate problem blocks the development of renewables. Presto says he’s a pragmatist when it comes to the shale gas boom and says it’s not going away. But he gets the argument against fossil fuels.