That still means a considerable amount
of natgas burning.
I see from the Robert Rapier article in The Oil Drum that GTL has less than half the EROEI
of natgas.
Not exact matches
The current value
of the land might be looked at as an option on
natgas prices going up a lot.
The extremely cheap
natgas prices we see today (~ $ 2.50 / mcf) are a result
of a temporary glut.
With current incentives in the USA wind competes directly with CCGTs right now in terms
of LCOE and has less risk
of price increases which might happen for
natgas.
Translation: «Instead
of coal, we'll burn
natgas.
How much fossil fuel (farmers diesel,
natgas, etc.) actually goes into the making
of ethanol is a different issue.
Already the levelized cost (LCOE)
of onshore wind is at the low end
of that
of new fossil capacity (including
natgas in the US).