The Natural Gas Boom Appears To Be Going Bust

Climate Cast
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Automatic TRANSCRIPT

Son natural gas as the bridge fuel to a net zero energy future but the rapidly emerging climate solutions mean. That bridge is getting shorter fast. I'm npr chief. Meteorologist paul hutton. Her and today on climate cast is the natural gas boom going bust. Justin mccullough is an independent journalists covering the finances of the energy transition. Hi justin welcome to climate cast. I paul thank you very much. So big companies like shell bet big on natural gas what are emerging solutions to the economics of natural gas. There are two main challenges to show all the people who had bet big on the future of natural gas and specifically liquefied natural gas. Renewable energy now can produce electricity for lower costs than natural gas. Fired power straight up competition. The other issue is there's oversupply right now. What level of investment are we talking about to get into these projects you know when shell bet big on the future of natural gas they in two thousand sixteen. They bought a company for over fifty billion dollars in two thousand and nine exxon company for over forty billion dollars. Exxon has since written off the majority of that forty billion dollars as a loss and it now appears that shell is facing similar problems with its fifty billion dollar investment in natural

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