Natural gas has been around for millions of years. Although it hasn’t been used for energy until fairly recently, its existence was always known although not necessarily understood.
Natural gas first came to light as blazing fires underneath of the earth’s crust which puzzled ancient civilizations. One of the most famous natural gas fires can be traced back to ancient Greece in 1000 B.C. On Mount Parnassus, a livestock herdsman discovered flames rising from cracks in the rock. The Greeks then believed this to be a sign from the gods and built a temple around the flame.
Is natural gas renewable? The answer is a little complicated. Natural gas, the fossil fuel, is not a renewable resource. Much of this natural gas we are burning now formed in deposits nearly 300 million years ago. While it may not take another 300 million years to form, scientists theorize that more could form in 50 million years. Since this formation will still not happen within any of our lifetimes, we do not regard natural gas derived from fossil fuels as a renewable resource.
Over the last 30 years, dramatic changes have occurred in the natural gas industry, causing the need for different regulations in the United States. The different aspects of the natural gas industry have all been regulated at some point. When the natural gas industry started to take off during the mid-1800s, natural gas was manufactured mostly from coal. While during this time regulating the natural gas industry was fairly simple with local governments overseeing monopoly regulation, the industry has continued to develop, making it more difficult to regulate.
Natural gas is used for so many reasons and materials that it’s difficult to gauge just how much natural gas is needed to produce everything that we need to use it for. The question that several people wonder is how much natural gas is out there and ready to be used for our disposal? This non-renewable resource is currently plentiful; however, the problem is that it takes thousands of years to form. So, if we continually keep using the same levels of natural gas, will we always have enough since the resource takes so long to reproduce?
Natural gas comes in an abundance of different element; one is liquefied natural gas, otherwise known as LNG. Liquefied natural gas was discovered with a motif for its state of matter based on a history of maneuvering and utilizing the gas around the world.
So What is Liquefied Natural Gas?
Liquefied natural gas consists of the cooling of natural gas at -260°F. At that temperature combined with standard pressure the condensation that the gas generates will progress into a liquid form. The liquid form sparks many more questions about the ways in which the economy can benefit from this transformation.
There are several explanations for the fluctuation in the demand for natural gas. Some factors, more obvious than others, will generate an assembly leading up to whether or not these affects are long term or short term. Due to the many uses of natural gas, the request remains continuous; yet there are certain times where the demand peaks for good cause.
The first well-known contribution to the need for natural gas is the weather. In the brutal cold of the winter or the sweltering heat of the summer, we are doing our best to remain comfortable at an acceptable temperature. Technology has proven that the best way to do so is via electricity that requires plenty of natural gas. Diverse weather patterns allow for short-term, increased demands. When the climate allows for a change in the seasons, natural gas can usually catch a slight break from a constant demand.
While weather is one way that determines the need for natural gas, there are many other variables that pose a requirement for larger, more continuous, supplies of the resource. For example, residential and commercial demand, industrial demand, electric generation, and the transportation sector are all pieces of the puzzle that require endless supplies of natural gas. All of these influences affect the economy differently, but they all pose a long lasting presence in our everyday lives for many years to come. After extensive research it appears that increases in the uses for natural gas will increase steadily over the years to come.
Natural gas will unceasingly tend to our daily living experiences as one of our most valued resources. New technologies and advancements may help determine the long term and short term effects of the gas, but the resource appears to remain a necessity for day-to-day transactions well into future generations.
The United States is likely to be the new leader in natural gas production
The gap between leaders in the natural gas Industry, by country, is predicted to widen. When it comes to natural gas industry and production by country, The U.S. Energy Information Administration predicts the U.S. will be the world’s top producer of natural gas hydrocarbons and petroleum, by the end of this year. The previous leaders in the natural gas industry and of its production, Russia and Saudi Arabia, have each increased their hydrocarbon output by about 1 quadrillion Btu over the past five years. Thanks to unprecedented growth in petroleum production in both Texas and North Dakota since 2008, U.S. has increased production by 7 quadrillion Btu. Another 3 quadrillion Btu in the U.S. natural gas industry, over the same period, has come from the eastern United States. As leaders in natural gas production, the U.S., Russia, and Saudi Arabia will be looking for more efficient ways to store this proverbial gold mine.