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Oil, gas, and coal mining operations release methane, a potent greenhouse gas, either accidentaly or intentionally.

Techniques can be used to reduce these emissions at no cost or even profitably. Methane is a major contributor to global warming, and the energy sector is a significant source of these emissions.

Although the exact magnitude of emissions is uncertain, there are known technologies to mitigate them. The challenge is to encourage the adoption of these technologies through voluntary or regulatory measures

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Oil field operators sometimes burn or release gas that comes out during oil production instead of capturing it.

This practice, called non-emergency flaring and venting, releases harmful greenhouse gases like methane and contributes to climate change.

Venting is even worse for the environment than flaring. With high natural gas prices, this wasteful practice not only harms the climate and human health but also wastes money.

Bringing this gas to market could help address gas shortages faster and more affordably than investing in new supplies.

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Global oil demand rebounded in 2021 after a Covid-induced decline, but its future is uncertain due to alternative fuels and changing behaviors. Oil use for transportation could decline by 2026, and peak demand may be reached after 2028.

Member countries of the IEA must maintain oil stocks and be ready for supply disruptions. The oil market faces uncertainties, and growth in demand will slow as the energy transition progresses. In a net-zero emissions scenario by 2050, oil demand barely increases until 2030 due to behavior changes and low-emission fuels.

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Why is natural gas important for the word?

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Why is natural gas important for the word?

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Natural gas is a convenient and flexible fuel for elevticity generation, accounting for about a quarter of global production. It can be easily stored, transported through pipelines or ships, and gas-fired power plants can quickly respond to changes in demand.

It emits less carbon than other fossil fuels and serves as a transitional fuel from coal to renewable energy sources.

Additionally, disruptions in gas supply have led to investments in liquefied natural gas terminals for trading purposes

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Coal is a big deal when it comes to making electricity in the word, even though it's really bad for the environment. It's like the dirtiest fossili fuel out there.

But even though most countries are slowly moving away from coal for making power, It's still really important for making iron and steel. We'll need to wait until we have better technology before we can stop using coal for that.