RE:RE:Natural GasEurope is not a power house user of fossil fuels....
Countries didnt have years to plan going off of russia energy.
USA consumes 20-24% of all natural gas consumed in the world. USA consumes more NG just on power generation then all of what Europe consumes on everything.
8 dollar NG will further push the solar roof top boom in the USA.
I personally dont want too see that. Not cheering this for that reason.
NG becomes uncompetive for power generation.
USA supply will go up and demand will go down longer prices stay high.
Spanito wrote: Not anymore buddy, nice try. Natural Gas is part of Green in EU, so all bets are off the table. This resource will be in double digits soon. Go short another commodity.
Spanito
kavern23 wrote: Anytime in the past...Natural Gas prices have been taken too crazy high levels....a plunge to insanely low levels follows...mr Eric Nuttall wouldnt say talk about that....look at the data:
June 2008 - 17.33 Nymex
dropping to 3.32 August 2009
Dec 2009 - 7.75 nymex
2.51
Feb 2014 -5.88 nymex
Feb 2016 - 1.97
Notice how the after the peaks...the plunge hits a lower mark cause of the reckless speculation?
Nov 2018 - 5.27 nymex
April 2020 - 1.83 nymex
May 2022 - 8.10 nymex
With renewables better...what do think the plunge price will be after oversupply...1.60...1.70.....
look at the past....