The United States can avoid curse of shale gas?

In a satellite photo of the US night scene, in the Bakken, North Dakota, USA and Eagle Beach, Texas, you can clearly see the dazzling light. This place is far from the city, obviously non-human lighting. what is that? The answer is the burning shale gas. This seems to be quite like the dumping of milk during the Great Depression. In order to save storage and transportation costs, the oil and gas giant would rather burn a large amount of shale gas. Will this waste become a new "shale curse"?

Americans burn shale gas, and the root cause is that shale gas is too cheap. This gas, which the international energy community calls “G am e Changer”, has greatly rewritten the current world energy landscape. According to the US Energy Information Administration, US oil imports will fall to the lowest point in 25 years in 2014. Even economists predict that by 2020, US oil and gas production may even exceed Saudi Arabia's number one in the world.

"Flying to the wind" made the Americans happy, and in fact let Obama's "green revolution" temporarily give up. But the lottery winners are more likely to go bankrupt, and the US shale gas impulse has also emerged. Due to the large-scale development of shale gas, pipelines and large gas storage tanks are too late to be built, and the decline in international natural gas prices has made a large amount of facility construction investment less economical. In many oil and gas producing areas in the United States, excess shale gas will be used. Burning out is the "most economical" practice.

According to a report in the Financial Times, in North Dakota, the main area of ​​shale gas development in the United States, the amount of excess natural gas burned out in 2012 increased by about 50%; in Texas, regulators in 2012 1963 venting permits were issued, 306 times in 2010. But obviously, this kind of venting burns not only brings huge waste of energy, but also exacerbates greenhouse gas emissions.

This is not to be reminiscent of the concept of "resource curse" - in 1995, American economists Jeffrey Salis and Andrew Werner surveyed 97 developing countries and found that the proportion of resources exports is high. Countries are developing more slowly than countries with scarce resources. In other words, resource wealth has not become a boost to economic development, but has become a burden.

If one of the curses in the current "Shale Curse" refers to a huge waste of energy; then another curse is the "Dutch disease" that is not uncommon. In the Netherlands in the 1970s, the Dutch natural gas industry flourished as a result of the discovery of the Groningen gas field, but this development has hit agriculture and industry. After the end of the boom cycle, the Dutch economy has collapsed. "Dutch disease" is also manifested in a number of resource-rich Latin American countries, which has become one of the important reasons for Latin American countries to fall into the "trap of development".

The current large-scale development of shale gas in the United States, especially in some places where shale gas has not burned enough to maintain revenue, shows that capital is dense in this field. However, the large amount of capital entering this field will inevitably reduce investment in other fields, especially the development of alternative energy. Although shale gas wars still need years, when the shale gas development is exhausted, will the United States face a similar "Dutch disease"?

In addition, the third curse in the "Shale Curse" should not be ignored. It is the act of the world's largest country to dilute its responsibility. The prosperity of shale gas has slowed down the US “green revolution” and made the US government more ignorant of climate change issues. On this critical issue concerning the survival of mankind, the United States lacks responsible behavior, and the result may be disastrous.

Sophie Sachs pointed out in summing up the "resource curse" that "as long as the wise use of natural resources can lay the foundation for human resources, technology and infrastructure investment to initiate a sustained growth process." If wealth is wasted, if the policy is stunned by victory, if the responsibility is replaced by short-sightedness, the catastrophic retribution will come sooner or later. When Americans are immersed in the "shale gas dividend," they should be wary of their possible devastating impact. Shale gas is indeed the wealth that the world gives to the United States and the world, but if it is not used properly, it will become a curse to the United States and drag the world.

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