Bill Colton: “Almost Unspeakable” Amount of Natural Gas Ensures America’s Oil Dominance

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January 22, 2015 at 12:52 pm  •  Posted in Oil and Gas  •  0 Comments

North America, rather than being a primary user of oil, will become the world’s supplier, predicts Bill Colton, Exxon’s chief strategist. North America will be one of the world’s largest exporters of natural gas by 2025. “Peak oil theorists have been run out of town by American ingenuity,” he says.

Michael E. Mann, a climate scientist and director of Penn State’s Earth System Science Center, noted that many experts dispute Exxon’s conclusion on renewables because in several places around the world renewable energy is competitive with the price of traditional power, even without a high price on carbon pollution that Exxon and others seem to agree is coming.

‘‘Exxon’s vision of a fossil fuel-driven future is one in which carbon dioxide levels rise well beyond the dangerous limit, where we will witness fundamental threats to food, water, land, our economy, national security, and our environment,’’ Mann said. ‘‘Let us hope, for the sake of us and our planet, that this is not our future.’’

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