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Will Covid-19 Permanently Shrink The Fossil Fuel Industry?

R-Squared Energy

The primary culprits behind coal’s decline are competition from cheap natural gas brought on by the shale gas boom in the U.S., But the natural gas and subsequent oil boom were victims of their own success. Global oil demand fell by as much as 30 million BPD, followed by gas and coal demand.

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The Top Energy Stories Of 2021

R-Squared Energy

That’s a recipe for higher oil prices, and subsequently higher gasoline and natural gas prices. Consumers saw that, as gasoline prices rose to their highest levels since 2014. Europe’s natural gas crisis. Europe suffered from a natural gas shortage this year. The 2021 Infrastructure Bill.

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Pipeline Politics Hits Multipolar Realities: Nord Stream 2 and the Ukraine Crisis

DeSmogBlog

More recently, with fracking, the United States has become the world’s largest gas producer and a major exporter of liquefied natural gas (LNG). It wants to muscle in on Europe’s huge market, displacing Russian gas. On the demand side, economic revival from the pandemic boosted demand for gas in Asia as well as Europe.

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Big Oil’s Been Secretly Validating Critics’ Concerns about Carbon Capture

DeSmogBlog

The carbon dioxide then is compressed and transported to sites where it is either stored underground, injected into oil and gas deposits for enhanced oil recovery, or used for a limited number of other applications such as beverage carbonation. A natural gas demonstration plant in Texas tests carbon capture technology.

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