CERA's Daniel Yergin says global gas markets will define the new century, just as oil did for the last 100 years.
In the Pulitzer Prize-winning book, , Cambridge Energy Research Associates Chairman Daniel Yergin writes of the oil industry, "This is a story of individual people, of powerful economic forces, of technological change, of political struggles, of international conflict and, indeed, of epic change."
Yergin captures in a few words oil's extraordinary past. Might those words one day describe the next 100 years of natural gas development? Talking with Yergin in early November, I found a man convinced that the forces that shaped a global oil market are at work in shaping a global market for natural gas. I'll be sharing some of his words with you.
But first, aren't we hearing just the opposite from a chorus of naysayers-that natural gas could prove more of a problem than a solution?
On the whole, energy experts have touted LNG as a useful tool to diversify America's energy mix. But after this year's run-up in natural gas prices, and forecasts for more of the same, many policymakers now see our growing dependence on natural gas as a liability: