While the onset of nuclear and hydrogen energy has provided some sort of a drawback for the oil and gas sector, the industry per se may not actually be affected by this energy resource changeover anytime soon. In fact, several studies claim that the major source of energy for the global economy in the first half on the 21st century will remain to be natural gas.
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This is in accordance with the energy source shift pattern that has been observed time again. Mankind has come a long way since the 15th century when dependence on mere animal and biomass sources was at its peak. As levels of technical expertise improved, man has been able to tap into more efficient resources such as nuclear fission and natural gases. By the end of the 20th century, natural gas use already comprised about 20 percent of the world’s energy resources.
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With the gradual obsolescence of fossil fuels such as coal, natural gas remains to be the most viable source of efficient energy. Apart from the remote possibilities of the anticipated ingress of clean coal technology, expected progress in biotechnology to improve the chances of biofuels, natural gas is continuing to being recognized by the vast majority as the fuel of the future.
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While an impending transition may be called into question, leveraging this growing attention to natural gas may still provide players with maximum profitability in the long run.
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