GEOTHERMAL TAKEOVER?

Geothermal Energy Could Soon Stage A Coup In Oil And Gas

Gaurav Agnihotri, 21 October 2015 (OilPrice.com)

“Geothermal energy is one of the most widely available green energy sources in the world today. In spite of its availability, its consumption is almost miniscule when compared to wind and solar energy mainly due to high drilling costs…Oil and gas drillers can play an important part in developing geothermal energy…Every single barrel of oil also brings out close to seven barrels of boiling hot water which can be utilized to generate electricity through geothermal turbines…The current [oil] market turmoil has created a once in a generation opportunity for savvy energy investors…Whilst the mainstream media prints scare stories of oil prices falling through the floor smart investors are setting up their next winning oil plays…A report released in April this year stated that Continental Resources and Hungary based MOL group were testing a system that could generate electricity by using hot water that is present in the oil well. With close to 25 billion gallons of water used by U.S. drillers on an annual basis, this system (if developed commercially in the near future) could generate electricity, which would be the equivalent to three coal fired plants running 24 hours a day, thereby reducing overall costs…” click here for more

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