[Editor’s Note: Joe Biden, White House puppet of green extremists, has let the dogs out against natural gas but, have no fear, natural gas will prevail in the end. Yes, it will.]
October 2021 gas ended futures trading last week setting a price of $5.841 per dt. Friday prices for the rest of the winter were: November $5.62, December $5.76, January $5.85, February $5.74 and March $5.37.
Apparently, it is taking a while to turn the gas production industry around from not investing in new development to ramping up exploration and delivery. The new high gas prices are stifling demand with the power industry increasing coal supplies in case we have a cold winter. Large users that can use substitutes for gas inputs are reducing their gas demand. Globally, gas prices are high and Liquefied Natural Gas is selling at premium prices.
Natural gas is liquified at -460℉. As you can imagine this takes a bit of electricity to accomplish. Then, as Liquified Natural Gas is transported and stored the methane component thaws out first, leaving the remaining mix with higher BTU levels. LNG for export is in high demand right now as Europe’s climate follies led to shortages and price spikes.
The Biden administration has unleashed the dogs of regulation on the fossil fuels industry. The alleged reason for government regulation is to protect the people. Now once the bureaucrats have authority, they are using their power to attack parts of the economy for political reasons.
The aim of eliminating the use of natural gas is not going to happen. Not that the oil and gas industry has won the argument; but that green plans and goals are simply unachievable. Hampered as it is, gas will play a big part in America’s energy future.
Follow Us on MeWe and Join Our
Natural Gas for the Future Group
This post appeared first on Natural Gas Now.