Natural gas is superior to wind and solar

Stephen Moore:

The U.S. Energy Information Administration just announced some spectacular news that should be banner headlines across the country: The price of natural gas has fallen to its lowest February level in 20 years. The data shows that natural gas prices fell to $1.77 per million British thermal units. In inflation-adjusted terms, the price of gas has plunged by some 80 percent since its high of $13.60 12 years ago. The price is down 90 percent since 2005, when prices hit nearly $20. (Quick: Can you think of anything else that now costs one-tenth of what it did 15 years ago?)

The Energy Information Administration also reports that U.S. natural gas production has hit an all-time high this year.

The shale oil and gas revolution keeps rolling on -- but no one is talking about it. This boom in production has affected the economy of every state, from Ohio and Pennsylvania to Texas, Oklahoma, Colorado and the Dakotas. By the way, oil prices have also fallen considerably, bringing gas prices at the pump to nearly $2 a gallon in some states. Prices are so low now that the drillers aren't making any money and are starting to shut down wells. They are victims of their own success.

Today's bargain-basement prices are partly due to moderate temperatures on the East Coast this winter, but this has been a long-term trend of cheaper and cheaper energy. America is now the Saudi Arabia of natural gas, and we are exporting more throughout the world than at any previous time in our history. It's hard to believe that a decade ago, we were importing natural gas. Thanks to fracking and horizontal drilling technologies that keep getting more and more efficient, we now have hundreds of years of supply of this fuel.

This spectacular tumble in natural gas prices has been a multibillion-dollar godsend to consumers, homeowners, manufacturers and other businesses. Just last week, a major Texas utility announced it would be sending homeowners cash-back checks because electricity and home heating costs are falling so rapidly. Expect more to do the same in the coming months.

Meanwhile, the United States continues to reduce its carbon emissions into the atmosphere at a faster pace than virtually any other country in the world. This is because natural gas is not just cheap. It is one of the cleanest ways to produce scalable and dependable electric power for a nation of 329 million people. We don't need brownouts in America as we saw in California, and natural gas is an excellent way to make sure the lights don't go out.
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Natural gas is a dependable fuel source that is scalable to meet demand.  That is something you cannot say about wind and solar alternatives.  It is not as impacted by extreme weather either.