More Gas Making Power

Natural gas use for electricity generation has jumped 38 percent over ten years, says the U.S. Energy Information Administration.

The EIA reports natural gas consumption for electricity generation jumped seven billion cubic feet per day in the summer of 2010 versus the same time in 2009. During the winter, five billion cubic feet per day more was used.

The agency points to low natural gas prices as well as the addition of 237 gigawatts of natural gas-fired power generation capacity between 2000 and 2010.

Globally, overall energy consumption – power generation, transportation, industrial and home heating - rose at its fastest pace since 1973. Overall, consumption is up 5.6 percent as developing nations rebound from recession.

If you separate the world’s richest countries, consumption jumped by 3.5 percent, the most since 1984. Consumption in developing countries in Asia and South America skyrocketed a shocking 7.5 percent. The surge, though, was led by China, with an 11.2 percent increase in consumption, putting the country ahead of the U.S. as the world’s biggest consumer of energy.