RE:RE:RE:RE:RE:RE:RE:RE:RE:This Is Fantastic!! What A Difference!! PEY!!To go with this post:
Collectively, state utility regulators project natural gas consumption for all sectors is forecasted to rise by 13.8%, attributed to increase in demand for both residential use and electric power generation. And that presumes normal weather through this winter season.
Scripps said a cold winter could exacerbate conditions by even further boosting demand, which is already forecasted to increase by 13% because of a rise in the number of days residents are expected to run their furnaces.
https://www.mlive.com/public-interest/2022/12/natural-gas-costs-forecasted-to-skyrocket-this-winter.html Has anyone seen the winter storms hitting the west coast?
GLTA
Quintessential1 wrote: In the Natural Gas producer's defence they were ecouraged to increase output as much as possible almost as if it were a humanitarian effort (it may very well have been).
I included Nord stream 2 just because i think it will never see service just like I believe NS1 won't see service again either.. I am sure the EU would love to resume purchasing Russian NG but they probably wern't the ones that sabotaged Nord Stream 1 and I don't believe whoever did is going to allow it to return to service. Nord Stream 2 will not be allowed to come online. There were enough reservations about NS2 before Russia weaponized NG. It is not going to be allowed to happen by those that have the power to stop it now.
I still don't think NA NG producers can produce enough in 2023 to meet demand even if they try to and as such we will continue to experience higher NG prices here but not nearly as high as the EU.
As for political pressure I believe we are seeing the restart of the cold war (not so cold). Instead of NATO versus the USSR it will be NATO versus Russia as Russia has shown itself to be as ruthless as its recent communist variation. I do believe that this could last as long as the last cold war and Russian energy will be persona non grata as will be its consumers.
GLTA
houbahop wrote: Nord Stream 2 never got in service.
I am not too sure Russia won't be selling gas to Europe in the near future.
Who knows that Germany and Europe will want to buy their natural gas at the same high price as in 2022 in the next years. The law of economics will eventually prevail over political ideology.
Such is the market rules of capitalism.
One fact is proven. Natural gas producers are very undisciplined.
2023 will be very interesting to follow.