Global futurist Dr. James Canton delivered the keynote address at the 91st Annual Gas Processors Association (GPA) Convention in New Orleans yesterday and said that the future for natural gas in the US is bright, but that the industry needs to take risks and be open to innovation.

“You have to learn to adapt and survive to be successful. Innovation is the key to this, not just in new technology, but the way in which you operate,” he said while noting that there are many drivers around the world that will impact natural gas.

For the extreme future, which Canton said is 50 years out, the biggest trends will be continued population growth, the creation of a new middle class in China, India, and Latin America, increased globalization, a further focus on national security, fast climate change, “green” alternative energy sources, more geopolitical risks around the globe, food and water demands, and a dynamic economy.

By 2020, he forecasts that the world will be energy challenged and, by 2035, one single energy source’s capacity will be enough to keep pace with the global population growth. “Natural gas is a natural solution to our energy needs, but these risks and trends will be a part of the new normal that will be led by disruptive risks,” Canton said.

To help alleviate these disruptions and keep pace with energy demands, the energy industry and political leaders must invest in smart grid technology that has the capability to use all forms of energy.

Many of the emerging and developing nations will make the “battle for the oil barrel” even fiercer and amplify the need for a diversified energy mix for the US. Just the fact that we have a secure energy source like natural gas is of utmost importance to the future of the nation, according to Canton. However, the lack of an infrastructure to fully utilize these resources is troubling.

“We need a smart grid infrastructure that can bring together our energy sources to prepare for the future so that we can maintain and grow our GDP and national security. There are new innovations that are emerging every day that could be used because of all the various future risks we face, energy is the one we can control,” he said. However, there isn’t enough long-term thought being put into place by the country’s leaders, according to Canton.

The current surge in oil prices is having the potential to undo some of the economic gains the US has experienced as it pulls itself out of recession. Canton noted that the US has a great deal of natural gas reserves, but lacks an energy grid and transportation system that can accommodate gas to its full potential. Natural gas should be at the core of our energy mix, he said.

“America is the place where we pride ourselves on being innovators. The only energy source that is local, not compromised by war or conflict, that is plentiful, and that we have stockpiled and we have the ability to get access to is natural gas,” he said.

One of the biggest issues facing this innovation is that political leaders are being relied upon to plan for our country’s future by creating a domestic energy policy, but this isn’t happening, he noted. According to Canton, it is incumbent upon the industry to focus on the issue first before the government will begin to come to the table.

“I believe in America’s ability to innovate, but we need the resources from the government along with industry to make this happen. Do we have the ability to be able to plan for the future intelligently? Yes, we do. Do we know how to do it? Yes, we do. Can we actually do it? Yes, we can. Will we have the political willpower? That is the big question,” Canton said.