Within the last few years there has been a remarkable change in attitude about fossil fuels.
There is rapidly growing agreement among people in positions of public responsibility that we must reduce our collective carbon emissions.
For example, the NB Power Commission is committed to increasing its renewable energy portfolio and shift from coal and oil to natural gas for thermal generation of electricity.
On the surface, the shift to natural gas makes sense because it emits the lowest amount of carbon dioxide of all fossil fuels when burned. In this context, shale gas has been called a “bridge fuel” that will help reduce carbon emissions during the time it takes for renewable energy to get ramped up to full potential.
However, research documented in a new report by Robert Howarth of Cornell University’s Department of Ecology and Environmental Biology now shows that methane leakage from hydraulic fracturing operations wipes out the advantage of shale gas as a cleaner burning fossil fuel. See “Methane Emissions and Climatic Warming Risk from Hydraulic Fracturing and Shale Gas Development: Implications for Policy.” www.dovepress.com
Methane emissions are second in quantity to carbon dioxide as a greenhouse gas, but it has 100 times the heat trapping capacity of CO2. Even relatively small emissions have a proportionally large effect. If curtailed, a significant reduction in the human contribution to the greenhouse effect would take place. If not curtailed, and especially if expanded, shale gas operations will add to the greenhouse effect.
According to Howarth, the policy implication of this research for addressing climate change calls for stopping the development of hydraulic fracturing for the purpose of shale gas production.
This is discouraging news for those who have been arguing that expanding the shale gas industry in the province would help reduce greenhouse gas emissions by displacing coal and oil.
The good news, however, is that while a fossil fuel bridge to a clean energy future is needed, it will likely be needed for a much shorter period of time than previously expected. Within the last several years the cost of renewables has plummeted and the scaling up of clean, renewable energy technology is moving with dramatic speed.
Economics is turning the tide. According to Christiana Figueres, head of the upcoming Climate Summit in Paris, 2.6 trillion dollars has already been invested in renewable energy and much more is on the way.
Investors are paying heed to Mark Carney, head of the Bank of England and former head of the Bank of Canada, who has repeatedly warned that fossil fuels are fast becoming stranded assets, and that smart money should look elsewhere for investment security. Why hasn’t the natural gas industry stopped the methane leaks that accompany their drilling, extraction, storage, and transportation systems? A recent Fraser Institute report says it’s just a matter of instituting “best practices.” If it were that easy, why haven’t they done it? Maybe it’s not that easy. Maybe the economics of shale gas discourages “best practices.”
For example, in its submission to the NB Commission on Hydraulic Fracturing, Corridor Resources cites “excessive regulatory requirements” and “requirements inconsistent with risk” as barriers to shale gas development in New Brunswick. This sounds like a conflict between shale gas economics and “best practices.”
Meanwhile, shortening the bridge to a low carbon future, no matter what fossil fuels are used for the journey, must certainly be the goal of progressive energy policies. Policies that advance renewable energy will help reduce the use of all fossil fuels.
NB Power is catching this wave; it recently announced a $500 rebate for installing heat pumps and New Brunswickers are snapping up the offer. The Power Commission is now about to sweeten the deal; it is planning to help finance the cost of heat pump installation and accept repayment through a slight increase on monthly power bills. This is, indeed, smart energy policy.
Keith Helmuth is a member of the Woodstock Sustainable Energy Group.