New fracking practices have increased the availability and decreased the cost of natural gas. This is having an enormous impact on energy systems around the world. There are numerous potential applications for natural gas including, but not limited to, use for transportation fuel, residential use, and electricity generation. Since the economic potential of exploiting this resource is so large it is likely that Canada, along with the US, will continue to ‘frack it all’ and reap the economic benefits on the global market. Other countries like China are joining in as well.
The largest increase in use of natural gas is for electricity generation. Natural gas fired power plants are appealing for many reasons. They can supply reliable base-load as well as peaking power. Also, they can be planned and built in less time than say, nuclear power stations, and for lower capital cost. Since fuel is available and cheap, natural gas power plants will continue to be built, and existing plants will continue to operate.