[Continued from above due to character limit]
Posted by blowlamp on 12/11/2022 23:25:40:
I actually couldn't care less that LNG is a fossill fuel, but with all the hysteria surrounding the use of fossil fuels, I thought I'd point out the hypocrisy. Does it matter to you that coal & oil are fossil fuels? I see that you mention this gas is normally flared, so how does that fit in with big business keeping emissions down?
With regards to flaring, they're businesses, which exist to make money and will do whatever is most profitable.
I think the practice of flaring gas is wasteful and hard to justify on a moral or technical level (although if the gas is coming up anyway, better that it is flared than just released as Methane with 10x greater global warming potential), but my opinions aren't going to change anything about the cold hard cash element which drives these businesses.
This is especially so because many of the producers (outside the USA) who are still actively flaring are State Oil Companies in low-middle income countries, which ALWAYS have a desperate need to maximise oil revenues, because they're propping up the economy of a whole country on their own.
More generally I must say that I don't understand what this supposed hypocrisy you keep referring to is meant to be; if you have something to say, say it rather than dancing around the point.
Posted by blowlamp on 12/11/2022 23:25:40:
The truth is that much of this gas is fracked, not flared, in the USA and it's only commercially viable to sell now that Russian gas has been removed from the loop, thus leaving much of Europe energy scarce.
It's true that there is significant shale-gas (and shale-oil) production in the US especially in the Permian, and it has been somewhat vulnerable to price fluctuations, but it's definitely not "only commercially viable to sell because of Russia".
Shale gas is part of the story of how the US has managed to suppress gas prices locally relative to other markets, whilst the widespread commercial failures of operators (which was focused on the Permian basin area again) was the result of a lot of small "mom and pop" E&P operators seeing an opportunity to grow by drilling new wells, and over-leveraging their businesses with high cost finance, with no financial cushion in place to account for a potential decline in demand; then experiencing a huge drop in demand due to the Pandemic.
In any case in this kind of context "Fracked" is something of a meaningless term… almost every active offshore well on the UKCS and in the Norwegian Sector will either have been fracked already, or will be fracked in its lifetime…
It's a process with nearly 40 years under it's belt, which was entirely uncontroversial for most of that time until a small number of greedy people started doing it inappropriately close to important groundwater aquifers to make ever smaller onshore wells viable.
The problem with fracking was never the process itself, but a combination of greed, inadequate regulation, worse enforcement, absent corporate ethics, and below par geological work.