OTC Poll: Gas Could Replace Oil as America's Primary Energy Source by 2030
A drive to increase unconventional gas production in the United States could cause gas to replace oil as America's primary energy source, according to a poll conducted Monday at the Offshore Technology Conference (OTC) in Houston.
Fifty-six percent of participants thought that gas will replace oil to become the country’s principal source of energy over the next 18 years, while 44 percent thought that oil would remain dominant.
The Industry Snapshot Poll was conducted by global independent technical advisor GL Noble Denton on the first day of OTC, which is expected to attract nearly 80,000 oil and gas professionals from more than 100 countries. The poll was also completed online by senior players across the industry.
Pekka Paasivaara, Member of the GL Group Executive Board, said: "The American unconventional gas market is rapidly changing the local energy landscape. Shale gas accounted for barely 2 percent of US natural gas production a decade ago. Today it is approaching 30 percent and rising.
"The result of this poll highlights the extent to which the American gas 'revolution' could grip the local energy market. The US currently stands as the world’s third largest oil producer, and our poll demonstrates significant industry confidence in the ability for the local unconventional gas market to compete."
GL Noble Denton is conducting three Industry Snapshot Polls this week, one for each full day of OTC. Delegates are also being asked to vote on whether oil and gas operators should always be liable for exploration and production risks, and if US investment in deepwater research and development has stalled since the Macondo incident two years ago.
To participate in the poll, visit GL Noble Denton at booth number 2241-K. Participants will be entered into a prize draw to win a new iPad after the show.
The results of the polls will be available from: www.gl-nobledenton.com.
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