Former President Bill Clinton, left, and Senator Harry Reid at the National Clean Energy Summit. (Photo: Center for American Progress Action Fund, CAPAF)
Natural gas is really gaining some momentum that will have a profound impact on the long term demand for natural gas and positive environmental impact that can be acheived through using natural gas more in the energy mix.
The US is the single largest customer for Canadian energy exports. The Energy policies of the US will also have a major impact on Canadian energy producers and natural gas will be in growing demand.
The Pickens Plan website has posted a video highlight reel on on the Clean Energy Summit 2.0 that is worth watching. You can view the video here. The Summit was attended by numerous influential Americans including Former President Bill Clinton, oil-billionaire turned natural gas /wind power champion T. Boone Pickens and Senator Harry Reid who was a co-sponsor of the Natural Gas Act which will increase tax credits for natural gas vehicles.
British Columbia is emerging as a major natural gas producer thanks to world class discoveries in the Horn River basin by Exxon Mobil, Apache Corp. EOG REsources, Encana Corp and many others (see list on side). The Provincial government of British Columbia has invested $187M into improved infrastructure; EnCana Corp is putting an initial $400M into a new gas processing plant; TransCanada is building a pipeline to tie Horn River to the network in Edmonton; and Kitimat LNG is building an LNG on the Pacific coast to export natural gas to Asia and international markets. Massive investment dollars are being invested in BC natural gas sector because of the favorable long term opportunity that natural gas will present in a changing energy world.
The next couple months will be very interesting. Key areas to watch are US natural gas inventories and the US Climate Bill.
