Energy
US Running Out Of Space To Store Natural Gas Thanks To Fracking
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America has used hydraulic fracturing, or fracking, to acquire so much natural gas the country is now running out of places to store it, according to the Energy Information Administration (EIA) in a report Thursday.
Natural gas storage facilities in the U.S. are already approaching peak design capacity and current natural gas inventories are breaking spring records.
Source: Energy Information Administration
The agency predicts the incredibly high amounts of gas in storage will result in record gas consumption in the electric power sector this year. U.S. natural gas power plants were already predicted to break records before the storage boom.
Natural gas has produced more electricity than coal for every month between July and October of last year, according to data released in December by EIA. Natural gas accounted for 35 percent of all electricity generated between those months. Coal only accounted for 33.6 percent, as shown in calculations performed by The Daily Caller News Foundation.
America’s storage facilities aren’t the only natural gas records being broken either. U.S. natural gas reserves are at their highest levels since 1972 and have risen for six consecutive years. Today, America’s proven recoverable natural gas reserves are seven times larger than they were in 2014.
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