Dudley spoke at a conference in Cleveland, stating that the world may require 40 percent more energy in 2030 than it does currently. In terms of resources, he said, the shale natural gas revolution in the United States could play a major role in meeting that demand.
Onshore deposits like the Utica shale play makes Ohio one of the largest potential energy producers in the country, he said. By his estimate, there may be as much as 15.7 trillion cubic feet of natural gas in Ohio.
"Natural gas is the cleanest burning fossil fuel," said Dudley. "It is also highly versatile, useful in power generation as well as the manufacturing industry that is so important to Ohio's economy."
Ohio Gov. John Kasich signed a package of measures in June that include regulations on the hydraulic fracturing of shale natural gas deposits in the state.
Hydraulic fracturing, known also as fracking, is the process in which water mixed with abrasives and chemicals is injected into underground rock formations to extract natural gas. Some of the chemicals used in the process are toxic, though they're typically present in trace amounts.
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