[Video] The problems with fracking (part 2)
As with all controversies, both sides think that they are right—and hydraulic fracturing, or fracking, is certainly no stranger to controversy.
Originally published as a main feature story in Energy Digital's monthly magazine, this piece addresses the top arguments on fracking head-on, attepmting to separate fact from fiction. Click here to read the entire article.
In the first post of this 4-part web series, we explored Argument No. 1: Fracking will worsen climate change.
In this post, we focus on the second main argument in the ongoing controversy surrounding fracking:
Argument #2: Renewable energy is replacing fossil fuels and other sources of nonrenewable energy.
The Energy Information Administration claims that combining solar and wind energy will only make up about 10 percent of the power generated just in the United States by 2040.
When we look at how much stock Germany put into renewable energy, it seems apparent that fossil fuels are going to be hanging around a little longer.
On the other hand, the EIA estimates the U.S. has 2,552 trillion cubic feet of potential natural gas resources.
[For a full report on the EIA's Annual Energy Outlook 2015, check out the video at the end of this article.]
On top of that, fracking is directly responsible for a substantial 47 percent drop in the price of natural gas, compared to what the prices would have been had fracking not been so widely employed in 2013.
Click here to read The "problems" with fracking (part 1), and look for The "problems" with fracking (part 3), coming soon to Energy Digital!
Click here to read the September issue of Energy Digital
Drax advances biomass strategy with Pinnacle acquisition
The Group’s enlarged supply chain will have access to 4.9 million tonnes of operational capacity from 2022. Of this total, 2.9 million tonnes are available for Drax’s self-supply requirements in 2022, which will rise to 3.4 million tonnes in 2027.
The £424 million acquisition of the Canadian biomass pellet producer supports Drax' ambition to be carbon negative by 2030, using bioenergy with carbon capture and storage (BECCS) and will make a "significant contribution" in the UK cutting emissions by 78% by 2035 (click here).
This summer Drax will undertake maintenance on its CfD(2) biomass unit, including a high-pressure turbine upgrade to reduce maintenance costs and improve thermal efficiency, contributing to lower generation costs for Drax Power Station.
In March, Drax secured Capacity Market agreements for its hydro and pumped storage assets worth around £10 million for delivery October 2024-September 2025.
The limitations on BECCS are not technology but supply, with every gigatonne of CO2 stored per year requiring approximately 30-40 million hectares of BECCS feedstock, according to the Global CCS Institute. Nonetheless, BECCS should be seen as an essential complement to the required, wide-scale deployment of CCS to meet climate change targets, it concludes.