The UK Spectator has an interesting article that reaffirms the point made on this site over the past year; new drilling technologies have caused the current and projected supply of natural gas to balloon. With natural gas being a relatively green energy, especially when compared to oi and coal, the environmental and price considerations make it the clear winner in the alternative energy war.
As I’ve noted before, the shift toward greater consumption of natural gas will be a slow process. A lot has to do with infrastructure changes and changes in the way current machinery is powered. With a glut in supply, pricing should remain low for natural gas until we start seeing a major shift to natural gas powered devices.
We live in a world filled with scarcity. Energy resources certainly are a scarce resource. Thus, the explosion of natural gas production over the past 7 or so years is great news for the world.