Many Americans think of the shale revolution as all about oil. Those thousands of wells bring up plenty of oil, after all. But they also bring up a treasure trove of natural gas, Fuel Freedom Foundation co-founder and chairman Yossie Hollander told Atlanta radio station WCFO recently.
Hollander told NewsTalk 1160 host Jeff Davis:
Our goal is to end our addiction to oil using no subsidies, using free-market competition. We have tons of fuels in the U.S. that we can use. We shouldn’t be using just oil. One of the biggest secrets of the oil industry that people don’t pay attention to is that we have more natural gas than oil now. So for every barrel of oil we take out of the fracking well, we actually get more … natural gas and natural gas liquids, and we have nothing to do with it because there’s no market for them. So their prices keep dropping.
And if we can take that gas and use it in transportation, either directly [as CNG and LNG] or as another fuel, converting it to other fuels, that is the big game-changer. This is huge investment, and [a] huge amount of jobs in the United States, and cheaper fuel forever.
Listen to the entire 22-minute interview below:
To learn more about the economics of turning natural gas into alcohol fuels, read our Opinion piece published in the Financial Times earlier this year.
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