Europe’s record low supply of natural gas could see the rest of the world paying larger heating bills in an effort to stay warm this winter, experts warn. Natural gas prices have risen more than 35 percent in the past month amid lower supplies and a surge in demand as pandemic-hit economies around the world reopen,…
Europe’s Gas Shortage Could See Rest of World Paying Larger Heating Bills This Winter: Experts
September 14, 2021
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US Natural Gas Inventories Down From Last Year
Natural gas inventories in the United States are projected to be below average when the country starts to need heat for winter, according to the U.S. Energy Information Administration. The EIA’s weekly report on natural gas storage, released Aug. 12, shows that the United States currently has over 2.7 trillion cubic feet of working gas…
Buffett’s Company Abandons $1.3 Billion Natural Gas Pipeline Deal
OMAHA, Neb.—Warren Buffett’s company is abandoning its purchase of a natural gas pipeline from Dominion Energy because of uncertainty about whether the deal could get regulatory approval. Berkshire Hathaway Inc. will receive a $1.3 billion refund on the proposed purchase of Questar Pipelines that was also supposed to include $430 million of Dominion’s debt when…
The Golden State Prepares for Darkness as Blackouts Loom
July 12, 2021
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Rolling blackouts throughout California are likely this summer due to a fragile power grid coupled with rising temperatures, an industry expert says. “Given the path that this state set itself on more than a decade ago, we can expect plenty of rolling blackouts,” Californians for Green Nuclear Power legal assistant Gene Nelson told The Epoch Times….
California, World’s Fifth-Largest Economy, Scrambles to Find Reliable Energy
July 7, 2021
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California is looking for help keeping its lights on this summer as it seeks to procure additional energy resources in preparation for coming heat waves. “We are concerned about the level of imports available,” California Independent System Operator (Cal ISO) vice president Mark Rothleder said during a recent press briefing. “During these high temperature conditions, we are experiencing…
Blackouts Loom in California as Electricity Prices Are ‘Absolutely Exploding’
June 29, 2021
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Commentary Two inexorable energy trends are underway in California: soaring electricity prices and ever-worsening reliability—and both trends bode ill for the state’s low- and middle-income consumers. Last week, the state’s grid operator, the California Independent System Operator, issued a “flex alert” that asked the state’s consumers to reduce their power use “to reduce stress on the grid and avoid…
Results Tally up Billions in Profit From Texas Freeze for Gas and Power Sellers
Natural gas suppliers, pipeline companies, and banks that trade commodities have emerged as the biggest market winners from February’s U.S. winter blast that roiled gas and power markets, according to more than two dozen interviews and quarterly earnings reports. The deep freeze caught Texas’s utilities off-guard, killed more than 100 people and left 4.5 million…
OPEC, US Oil Firms Expect Subdued Shale Rebound Even as Crude Prices Rise
LONDON/HOUSTON—OPEC and U.S. oil companies see a limited rebound in shale oil supply this year as top U.S. producers freeze output despite rising prices, a decision that would help OPEC and its allies. OPEC this month cut its 2021 forecast for U.S. tight crude, another term for shale, and expects production to decline by 140,000…
Video: Texas Power Outages Explained—Jason Isaac
February 21, 2021
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What’s behind the devastating power outages in Texas? Some say the problem was freezing natural gas pipelines; some say it’s because wind turbines froze or mismanagement by the Electric Reliability Council of Texas (ERCOT). To find out what’s going on in Texas, I sat down with Jason Isaac, who predicted a power crisis in Texas…
Video: Texas Power Outages Explained
February 21, 2021
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What’s behind the devastating power outages in Texas? Some say the problem was freezing natural gas pipelines; some say it’s because wind turbines froze, or because of mismanagement by the Electric Reliability Council of Texas (ERCOT). Jason Isaac, who predicted a power crisis in Texas months ago, explains what’s going on in Texas. He’s the…
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