Coal 'crowded out' by cheaper US shale gas
Energy producers in the US have been breaking records. But what are the knock-on effects for the rest of the world?
According to BP, 2012 saw the largest single-year increase in US oil production ever recorded, and the biggest growth in natural gas production, much of it due to its shale revolution.
The Today programme's Tanya Beckett spoke to Christof Ruhl, BP's chief economist, who said: "Coal in the US is being crowded out in power generation by cheaper shale gas.
"In the US, carbon emissions fall stronger than in Europe because coal is replaced with gas and power generation."
First broadcast on the Today programme on Thursday 13 June.
13 Jun 2013
- From the section Business