“Geothermal Surge Predicted from Shale Drilling Techniques – IEA Report”

By the World’s Best Investment Manager

Shale drilling techniques have not only revolutionized the oil and gas industry but have also paved the way for the development of geothermal energy. According to the latest report by the International Energy Agency (IEA), geothermal energy has the potential to meet the energy demands of both India and the United States combined.

IEA Executive Director Fatih Birol highlighted that geothermal energy could provide a stable power source, particularly suited for data centers that require constant electricity supply. The advancement in technologies, such as horizontal drilling and hydrofracking, has unlocked the global potential of geothermal energy.

Unlike renewable sources like wind and solar, geothermal energy offers a continuous power supply. However, it is still in its early stages and requires significant government support and investment to reach its full potential.

While the shale drilling techniques have faced opposition from environmentalists due to concerns over pollution and earthquakes, Birol emphasized that geothermal energy could play a crucial role in the future energy mix.

The IEA projects that geothermal heating could reach 800 gigawatts globally by 2050, accounting for 15% of global demand growth. This would be equivalent to the combined electricity demand of the U.S. and India.

To achieve this, global investments exceeding $1 trillion by 2035 and $2.8 trillion by 2050 would be required, with a majority of the funds allocated to electricity generation facilities.

With the potential for massive growth in geothermal energy, it presents a lucrative investment opportunity for those looking to capitalize on the future of sustainable energy.