A new concern is that Ukraine will be dominated by Russia in part due to lack of EU intervention due to gas supply threats. Thirty percent of European gas is supplied by Russia at an attractive $9.8/MMBtu. The alternative is to pay $17/MMBtu from other sources as do Japan and Korea. There is a way for the U.S. to provide more of this gas while boosting the economy and best of all greatly reducing environmental emissions. By upgrading existing coal-fired power plants from subcritical to supercritical efficiency, the U.S. would increase electricity production by 40,000 MW while reducing equivalent tons of CO2 by over five billion tons/year. The U.S. can supply more of the world’s energy needs over the next several decades. Liquid fuels and LNG can be shipped to Europe and elsewhere. The price of natural gas in the U.S. is presently half that of that paid by the EU and one-third of that paid by Asian nations. The modest cost to convert gas-to-LNG or liquid fuels and ship it to Europe makes this option economically viable at current price differentials. So, the question becomes: Could the U.S. meet its own gas needs and some of Europe’s? U.S. shale gas is a very big resource, but it has limits. Therefore, EIA forecasts that coal use in the U.S. will remain at 2013 levels through 2040. The present plan is to continue to operate the old power plants and not build any new power plants. There is a novel approach … Click Here For Complete News Release Text
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