No Bigger Energy Waste

Technology capable of converting flared gas to usable commodity is worth $50billion/year

clipped from www.theage.com.au World Bank calls on oil producers to cut $50bn gas fire THE world's oil producers are wasting more than $50 billion a year of natural gas by burning it off in flares — and adding significantly to the world's greenhouse gas emissions in the process. The bank said the amount was equivalent to 27 per cent of the entire US consumption of natural gas, and 5.5 per cent of global gas output. Had it been sold in the US at 2006 prices, it would have been worth $US40 billion ($A53 billion at 2006 exchange rates). "In Africa alone, about 40 billion cubic metres of gas are burned every year, which, if put to use, could generate half the electricity needed in that continent." The bank is trying to generate common action by all stakeholders to reduce gas flaring, and find markets and infrastructure to put the surplus gas to use.