America has cheap, domestic natural gas and expensive global oil. America is home to the shale gas revolution and has had record gas production in 2011 and 2012. Though gas is cheap and oil is expensive in the USA, the portion of natural gas used for transportation is 16 times greater globally than in the USA.
Citi Research at page 31 in the linked to report states that globally 3.2% of natural gas is used for transportation, but only 0.2% of America's gas is consumed to power vehicles of all sorts.
https://ir.citi.com/586mD%2BJRxPXd2OOZC6jt0ZhijqcxXiPTw4Ha0Q9dAjUW0gFnCIUTTA%3D%3D
No comments:
Post a Comment