Drumbeat: July 20, 2012

theoildrum.com 20 Jul '12, 1pm

Drumbeat: July 20, 2012

The main problem isn’t the oil itself—although, of course, if the 90 billion barrels of oil believed to be obtainable in the Arctic are burned in cars or trucks, the carbon released will help undoubtedly help intensify climate change. It’s chiefly the natural gas that will be produced along with that oil. Natural gas is essentially methane—and methane is a powerful, albeit short-lived greenhouse gas, with more than 20 times the warming potential of plain old carbon dioxide. By some estimates, there’s as much as 1.7 trillion cubic ft. of natural gas to be found in the Arctic. But companies like Shell aren’t braving the elements in the Arctic to bring back natural gas. They’re there for the oil, which is worth far more—and not incidentally, is a lot easier to store and transport than gas. Natural gas either needs a pipeline network that can allow it to be shipped from the we...

Full article: http://www.theoildrum.com/node/9359

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