FOR IMMEDIATE RELEASE
September 18, 2013
Contact: Laura Tierney
Email: [email protected]
Office: +1 202.785.0507
Natural Gas is Contributing to Rapid Changes in US Energy Markets
Washington, DC – Natural gas is helping to transform the way Americans generate and use energy. At a briefing on Capitol Hill earlier today, Bloomberg New Energy Finance and members of the Business Council for Sustainable Energy (BCSE) discussed the latest in investment and market trends in natural gas sectors.
“US natural gas resources are transforming the energy landscape, and coupled with increasing use of renewable energy and energy efficiency – the US energy portfolio today is dramatically different from five years ago – and our national energy security, emissions profile and domestic economy are better off because of it,” commented Lisa Jacobson, President of the Business Council for Sustainable Energy.
According to the Sustainable Energy in America 2013 Factbook , released by the BCSE and Bloomberg New Energy Finance (BNEF) earlier this year:
• Total energy use fell over 6% between 2007 and 2012, driven largely by advances in energy efficiency.
• Use of natural gas and renewable energy have increased, while other major energy sources such as coal and oil have experienced declines. Natural gas provided the US with 27% of its total energy supply in 2012, and renewables (including hydropower) supplied 9.3%.
• In the electricity sector, lower- and zero-carbon power sources are growing. Natural gas-fired power plants provided 31% of US electricity in 2012, up from just 22% in 2007.
"The new market fundamentals of natural gas created by abundant and affordable supply can spur the development of additional technology that has the potential to further enhance the production and utilization of natural gas. This in turn spurs long term investments in expanding and modernizing the natural gas delivery network," noted Rick Murphy, Managing Director, Sustainable Growth, American Gas Association.
“In the face of increasingly extreme weather events and disrupted electricity service, the US market is beginning to correctly value the contributions that combined heat and power (CHP) and distributed generation provides to keeping the lights on and US industry and businesses running,” remarked Joseph W. Allen, Director of Energy Policy, Federal Government Affairs, Caterpillar Inc.
"There are valuable synergies to be gained by natural gas working together with renewables and energy efficiency to deliver the essential energy that will help drive economic growth while reducing greenhouse gas emissions," remarked Yvonne McIntyre, Vice President, Federal Affairs, Calpine Corporation.
"US companies continue to invest in natural gas vehicles and infrastructure to lower operational costs and to reduce emissions," commented Daniel LeFevers, Vice President, Federal Public Affairs, Waste Management.
The congressional briefing was part of a "state of the industry" briefing series that the BCSE organizes. The next event will held on October 10, 2013 from 3:00 - 4:30 pm at 2168 Rayburn House Office Building and will focus on renewable energy market and policy trends.
Download the full press release.