Gas and Oil Prediction
Gas consumption will climb 50 percent faster than oil use in the next 25 years, predicts the international Energy agency. natural gas is on track to become the second most important energy source, passing coal by 2020. Oil, however, will remain king. The predictions were reported in the
Wall Street Journal, which also said the oil companies are aware of this important shift. Jeroen van der Veer, Royal dutch shell chief executive, is quoted in the newspaper as saying, "One day, the question will be whether we should be (called) an oil-and-gas company or a gasand-oil company." Russia has the world’s largest gas reserves.Manufacturers in
TurmoilThe rise of natural gas prices this winter is cutting into the manufacturing muscle of this country, according to the national association of Manufacturers. almost half of those surveyed by the association said that rising gas costs will force them to lay off employees or freeze or cut wages. More than one-fifth will consider reducing health care or benefit because of gas price increases. about two-thirds of respondents said natural gas is their primary energy source. Manufacturers use one-third of the natural gas used in the united states. its price has doubled in the past year and is six-times higher than in the 1990s, the association said.