Natural Gas a Potential Game Changer, Obama Administration Touts Wind Energy Jobs

Technological  breakthroughs in seismic imaging, horizontal drilling and hydraulic fracturing, or “fracking,” are enabling us to replace coal with cleaner natural gas as the largest source of electricity generation in America.  The use of natural gas will help lower our carbon emissions faster than expected and ultimately make us more energy secure. That is the good news.  The not so good news is that natural gas is still a fossil fuel with the accompanying environmental hazards plus the use of cheap natural gas could very well sink business investment in renewables.  Tom Friedman's excellent editorial in the New York Times this weekend points out the advantages to using gas as well as the environmental and political pitfalls.  Quoting George Mitchell of Devon Energy and Fred Krup, president of the Environmental Defense Fund, he makes the point that careful and thoughtful protocal standards need to be in place for the advent of natural gas to be successful.  At the same time, standards should not be so rigid as to hurt the economics of using gas.  Friedman proposes a carbon tax that raises enough money to help pay down the deficit and lower both personal income taxes and corporate taxes while ensuring that renewables remain competitive with natural gas.  

The Obama campaign released a new web video Friday which argues that the president's support for renewable energy is creating jobs. The campaign has put renewed emphasis on its clean energy agenda amid news that Mitt Romney would allow the production tax credit for wind to expire at the end of the year. The video includes an interview with Steve Smiley, president and CEO of Michigan-based Heron Wind.