Natural gas futures are posting a small gain Thursday after the U.S. government reported a larger-than-expected supply withdrawal. According to the U.S. Energy Information Administration (EIA), domestic natural gas inventories declined by 59 billion cubic feet in the week ending November 26. This is slightly larger than the median estimate of 57 billion cubic feet….
US ‘Must Not Emulate Europe’s Disastrous Energy Blueprint’: Expert
November 18, 2021
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climate changecoalEnergy Information AdministrationEuropeIEAInternational Energy AgencyJoe ManchinJohn BarrassoNatural gasOilrenewablesRobert BryceSaule OmarovaUSUS News
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Energy expert Robert Bryce said spiking energy prices in Europe are tied to an increased reliance on renewables and lowered investments in fossil fuels, arguing that the continent’s green policies provide the United States with a clear example of what not to do. Bryce, who made his remarks in testimony to the Senate Committee on Energy…
European Gas Prices Surge as Russian Pipeline Suffers Setbacks
MOSCOW/LONDON—European gas prices surged again on Wednesday after a delay in the approval process for a major new pipeline from Russia, which German government sources said might not now be commissioned until March next year. Germany’s energy regulator suspended the process for getting the Nord Stream 2 pipeline up and running on Tuesday, dimming hopes…
The Coming Coal Crisis
November 17, 2021
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Business & EconomyChinacoalCOP26economic policieseconomyEnvironmentIndiaInternationalNatural gasScienceUnited StatesUSWorld
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News Analysis As COP26 drew to a close, the great and the good who converged on Glasgow, Scotland, appeared relatively united in rhetoric, if not in enforceable commitments. Their views have been clear. For the world to slow human-caused global warming, fossil fuels—particularly coal—must largely, and quickly, be abandoned. The final language in the COP26 decision…
Natural Gas Prices Expected to Be Volatile This Winter Amid Uncertainty About Weather: EIA
Natural gas prices are expected to be “volatile” across the United States as the winter heating season begins amid uncertainty about the weather, according to the U.S. Energy Information Administration (EIA). In its November Short-Term Energy Outlook (STEO), published Tuesday, the EIA estimates that U.S. natural gas storage levels had risen to within 3 percent of the…
Eversource Energy Company Warns of 15 Percent Rise in Winter Heating Bills
Eversource Energy on Wednesday warned that customers could see natural gas heating prices rise 15 percent, costing an average of $30 a month more compared with last year. In the company’s third-quarter 2021 earnings call on Wednesday, Philip J. Lembo, executive vice president and chief financial officer, cited rising prices post the COVID-19 pandemic, forecasts of a cold winter,…
World Is Facing ‘Real Shortage of Energy’ That Could Lead to Social Unrest: Blackstone Co-Founder
October 26, 2021
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The world is facing a “real shortage of energy” that could lead to social unrest, according to Blackstone Inc. co-founder Stephen Schwarzman. “We’re going to end up with a real shortage of energy,” he said at the fifth edition of the Future Investment Initiative in Riyadh, Saudi Arabia, on Tuesday, Bloomberg reported. “And when you have a…
Canada Boosts US Natgas Exports, Drills More as Global Prices Surge
CALGARY, Alberta/NEW YORK—Demand has jumped for relatively cheap Canadian natural gas, driving exports to the United States to three-year highs and prompting producers in Canada to boost capital spending and drilling activity. Global natural gas prices have hit multi-year highs as world economies recover from last year’s slowdown during the pandemic. Now, natural gas stockpiles…
Energy Crisis May Trigger Winter Blackouts Across US: Coal Firm CEO
The energy crisis that has led to shortages and blackouts in Europe and Asia could hit the United States this winter, said the CEO of an energy firm. “We’ve actually had discussions with power utilities who are concerned that they simply will have to implement blackouts this winter,” Ernie Thrasher, the head of Xcoal Energy…
Rising Natural Gas Prices Likely to Bite This Winter
News Analysis As the price of natural gas surges due to both international factors and domestic policies, it could make for an expensive winter season for Canadians, say experts. “There are constraints in several markets and demand has shot up post-pandemic,” says Timothy Egan, president and CEO of the Canadian Gas Association (CGA). “There’s a…
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