charlotte: Upstream people (who LOVE to complain about lower oil and gas prices) are generally not aware (enough) of the POWER unleashed when PRODUCT DEMAND kicks in from lower prices and other factors!!! Polar Vortex, what POLAR VORTEX?? Natural gas demand is at an ALL-TIME HIGH (EIA data here)!!! And is only going UPWARD from there!!! And when you combine that with an ongoing pipeline capacity bottleneck (less than it used to be, still…), you get $175/MMBTU!!! There’s a SILVER LINING from lower prices, people!!!
Here’s the article:
Spot prices for the fuel used to heat homes and generate power reached a record $175/MMBtu in New York, according to Consolidated Edison Inc. That’s a far cry from the $2.93 that U.S. gas futures have been averaging on the New York Mercantile Exchange this winter…
All opinions are my own, and no relationship with any company in the article is implied. Read full article at the publisher’s site: Natural gas in U.S. soars 60-fold amid icy squeeze in Northeast