How We Could Blow the Energy Boom: America's Vast New Surplus of Natural Gas Could Lead to Greater Prosperity and a Cleaner Environment. but If We Don't Fix Our Decrepit, Blackout-Prone Electric Grid, We Could Wind Up Sitting in the Dark

By Leonard, Jeffrey | The Washington Monthly, November-December 2012 | Go to article overview

How We Could Blow the Energy Boom: America's Vast New Surplus of Natural Gas Could Lead to Greater Prosperity and a Cleaner Environment. but If We Don't Fix Our Decrepit, Blackout-Prone Electric Grid, We Could Wind Up Sitting in the Dark


Leonard, Jeffrey, The Washington Monthly


[ILLUSTRATION OMITTED]

For the first time in four decades, spanning the last eight presidents, America is poised to break free of its energy crisis. The country finds itself suddenly awash in domestic energy, especially new supplies of natural gas extracted from shale rock. The economic windfall is already enormous. According to a recent study by energy analysts, consumers saved more than $100 billion in 2010 alone as a direct result of the natural gas boom. Economists at Bank of America calculate that the boom contributes nearly $1 billion per day to the economy, equal to 2.2 percent of GDP--roughly the same as the economy's rate of growth in recent years.

The environmental windfall is also substantial. Relatively clean-burning natural gas is rapidly replacing coal as our primary source of electricity, leading to reductions in greenhouse gas emissions. Gas-fired power plants are also more easily integrated with renewable energy sources such as wind or solar, giving that industry a boost. The potential benefits of the gas boom also include the promise of a manufacturing revival in the U.S. based on the comparative advantage of lower energy costs, and the opportunity for the country to overcome its chronic trade deficits. This "energy dividend" could be, in other words, the biggest game changer in global politics and economics in a generation.

Yet this bright shiny future is hardly assured. While natural gas deposits could very well yield enough to sustain our energy needs for another century, there are many reasons to fear that we won't succeed in maintaining adequate supplies of economically available natural gas, or in putting enough of it to optimal use--generating electricity.

More fundamentally, in order to capitalize on today's energy dividend, we need to meet a second essential precondition: repairing, expanding, and modernizing our overstrained electrical grid. As it stands, the grid--an interconnected network of 360,000 miles of transmission lines and substations linking more than 6,000 power plants to customers nationwide--is an inefficient and increasingly blackout-prone tangle of 1950s technology. In its present dilapidated state, it is not only imposing unacceptable and avoidable environmental costs due to its inefficiency, it is also making us vulnerable to an array of threats that could dramatically impair the U.S. economy tomorrow--regardless of how much surplus energy we have in the ground.

The gas boom could bring us nearly limitless potential for building a greener and more prosperous future. Yet without long-term planning and bold political leadership to fight for the right policies, America may wind up awash in cheap energy, while American homes and businesses are stuck in the dark.

Many people will come to this subject concerned about the environmental consequences of "fracking"--that is, hydraulic fracturing--of natural gas, and it's certainly an important issue. But as this magazine has argued (see Jesse Zwick, "Clean, Cheap, and Out of Control," May/June 2011), with the right regulations we can reduce the adverse environmental consequences without fundamentally altering the total volume of natural gas produced.

Properly deployed, natural gas has the potential to enable America to overcome our dependence on coal, an extremely dirty fuel, as our primary source of electricity. The result will be profoundly positive for the environment simply because natural gas is substantially cleaner than coal. When used to generate electricity, natural gas emits about half as much carbon dioxide, produces some 80 percent less nitrous oxide pollution, and releases negligible sulfur dioxide, particulate matter, and mercury compared to coal. Electricity generation accounts for 40 percent of all carbon dioxide emissions in the United States, so this transition alone provides us with a clear path over the next several decades to make dramatic reductions in greenhouse gas emissions.

The rest of this article is only available to active members of Questia

Sign up now for a free, 1-day trial and receive full access to:

  • Questia's entire collection
  • Automatic bibliography creation
  • More helpful research tools like notes, citations, and highlights
  • Ad-free environment

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Project items

Items saved from this article

This article has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this article

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited article

How We Could Blow the Energy Boom: America's Vast New Surplus of Natural Gas Could Lead to Greater Prosperity and a Cleaner Environment. but If We Don't Fix Our Decrepit, Blackout-Prone Electric Grid, We Could Wind Up Sitting in the Dark
Settings

Settings

Typeface
Text size Smaller Larger
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Full screen

matching results for page

Cited passage

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited passage

Welcome to the new Questia Reader

The Questia Reader has been updated to provide you with an even better online reading experience.  It is now 100% Responsive, which means you can read our books and articles on any sized device you wish.  All of your favorite tools like notes, highlights, and citations are still here, but the way you select text has been updated to be easier to use, especially on touchscreen devices.  Here's how:

1. Click or tap the first word you want to select.
2. Click or tap the last word you want to select.

OK, got it!

Thanks for trying Questia!

Please continue trying out our research tools, but please note, full functionality is available only to our active members.

Your work will be lost once you leave this Web page.

For full access in an ad-free environment, sign up now for a FREE, 1-day trial.

Already a member? Log in now.