The discovery of Natural gas is a very promising development for the world Economy. Natural gas is an alternative source of energy that helps improve our economy manifold. Whether you consider it a cheaper source of energy or a means of creating employment & reducing global warming, Natural Gas is a means to a brighter and more sustainable future.
Reduced cost of running transportation: The exploration and production of record amounts of natural gas will reduce the costs of running the nation’s transportation fleet as automobiles, buses and trucks go partly or wholly electric.
Generating employment: The need to build pipelines from gas fields to utilities and the requirement to build networks of charging stations on highways and in major cities will require a whole new massive infrastructure effort, which in turn will need the services of construction workers, engineers and other assorted building folk. The nation’s GDP will surely benefit.
Reduced import of crude oil: The cheaper cost of electricity will reduce the demand for crude oil, which will reduce our imports from the foreign oil producers, which will reduce our balance of payments deficits– and in turn our budget deficit.
Strengthening our currency: Reducing our balance of payments deficit will strengthen our currency, which will make the cost of importing other raw materials cheaper– while hurting to some extent our exports.
Slow the course of Global warming: Using natural gas to create electricity will reduce our need for coal and will drastically reduce emissions of carbons that are contributing to global warming.
Environment friendly: As news recently stated, natural gas has emerged the cleanest of all sources of energy. Comprising primarily methane, natural gas releases mostly carbon dioxide and water vapour posing, arguably, the least risk to the environment. Whereas, coal and oil that comprise complex molecules with higher carbon ratio and higher nitrogen and sulfur contents tend to release higher levels of harmful emissions that include a higher ratio of carbon, nitrogen oxides (NOx) and sulphur dioxide (SO2).