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Natural gas prices, supply signal expensive winter heating bills

Chainsawmassacre

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Biden will blame it on the hurricane but the truth is prices were already soaring and will now skyrocket because of Biden's poor energy policies.


"Currently, natural gas supplies in storage are 16.8% below year-ago levels and 7.2% below the five-year average"

"The U.S. in recent years has been less reliant on Gulf of Mexico gas production because of fracking and the shale gas revolution. Shale production of natural gas was a historic game-changer as we went from a country that couldn't produce enough to meet our own needs to become the biggest producer in the world. Our increased production of natural gas also dramatically lowered our greenhouse gas emissions as the US was able to replace dirty coal plants with much cleaner-burning natural gas.

Under President Trump U.S. natural gas production grew by 10.0 billion cubic feet per day (Bcf/d) in 2018, an 11% increase from 2017. The growth was the largest annual increase in production on record, reaching a record high for the second consecutive year.

Yet but the anti-drilling campaign by the Biden administration and the desire to push more natural gas production offshore created a situation where U.S. production is stagnant as opposed to growing. Natural gas production fell to 91.7 billion cubic feet in the first half of this year. As a result, natural gas future prices have risen 94% since President Biden was inaugurated. That is the biggest surge in natural gas prices going back to the year 2000. "


 

Helix

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If only we had fracked all of our aquifers into toxic sand, we might have saved two bucks in December, as the NG companies surely would have passed on the savings to us. To protest, I'm going to dig a two mile deep hole in my backyard and dynamite the bedrock to punish it for not sharing its natural gas.
 
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Biden will blame it on the hurricane but the truth is prices were already soaring and will now skyrocket because of Biden's poor energy policies.


"Currently, natural gas supplies in storage are 16.8% below year-ago levels and 7.2% below the five-year average"

"The U.S. in recent years has been less reliant on Gulf of Mexico gas production because of fracking and the shale gas revolution. Shale production of natural gas was a historic game-changer as we went from a country that couldn't produce enough to meet our own needs to become the biggest producer in the world. Our increased production of natural gas also dramatically lowered our greenhouse gas emissions as the US was able to replace dirty coal plants with much cleaner-burning natural gas.

Under President Trump U.S. natural gas production grew by 10.0 billion cubic feet per day (Bcf/d) in 2018, an 11% increase from 2017. The growth was the largest annual increase in production on record, reaching a record high for the second consecutive year.

Yet but the anti-drilling campaign by the Biden administration and the desire to push more natural gas production offshore created a situation where U.S. production is stagnant as opposed to growing. Natural gas production fell to 91.7 billion cubic feet in the first half of this year. As a result, natural gas future prices have risen 94% since President Biden was inaugurated. That is the biggest surge in natural gas prices going back to the year 2000. "


Bro did you even read the article you posted? The author blamed it on the hurricane. LMAO what is it with conservatives posting articles that directly disprove their bs?

Hurricane Ida not only hit 90% of natural gas output but also did major damage to key onshore staging areas and because of that, it is taking much longer to restore natural gas production than ever. Over 78% of the Gulf of Mexico's Natural gas production remains offline and there is no clear timeline as to when they can get things back to normal. The pace of recovery, in just the natural gas side of the equation, is one of the slowest recoveries in history, worse than Hurricane Katrina back in 2005.

That is bad news and timing because this is the time of year the U.S. has to build inventories so that we can have enough supply to get through winter. The way the natural gas market works is kind of like the way squirrels work. At this time of year, they collect their acorns so they can get through winter, That is exactly what the US energy industry has to do with natural gas, so they have to have extra supply and storage so that during cold winters they have enough to meet increased demand.

Currently, natural gas supplies in storage are 16.8% below year-ago levels and 7.2% below the five-year average. If we don’t see Gulf production bounce back those supply deficits will grow to cause a situation that could leave us vulnerable to price spikes if not shortages.
 

Chainsawmassacre

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Bro did you even read the article you posted? The author blamed it on the hurricane. LMAO what is it with conservatives posting articles that directly disprove their bs?

Hurricane Ida not only hit 90% of natural gas output but also did major damage to key onshore staging areas and because of that, it is taking much longer to restore natural gas production than ever. Over 78% of the Gulf of Mexico's Natural gas production remains offline and there is no clear timeline as to when they can get things back to normal. The pace of recovery, in just the natural gas side of the equation, is one of the slowest recoveries in history, worse than Hurricane Katrina back in 2005.

That is bad news and timing because this is the time of year the U.S. has to build inventories so that we can have enough supply to get through winter. The way the natural gas market works is kind of like the way squirrels work. At this time of year, they collect their acorns so they can get through winter, That is exactly what the US energy industry has to do with natural gas, so they have to have extra supply and storage so that during cold winters they have enough to meet increased demand.

Currently, natural gas supplies in storage are 16.8% below year-ago levels and 7.2% below the five-year average. If we don’t see Gulf production bounce back those supply deficits will grow to cause a situation that could leave us vulnerable to price spikes if not shortages.
Obviously you only read the parts that fit your narrative.That's SOP for the left.

natural gas future prices have risen 94% since President Biden was inaugurated. That is the biggest surge in natural gas prices going back to the year 2000. "


"The U.S. in recent years has been less reliant on Gulf of Mexico gas production because of fracking and the shale gas revolution. Shale production of natural gas was a historic game-changer as we went from a country that couldn't produce enough to meet our own needs to become the biggest producer in the world."

Prices for NG were already up 94% due to Bidens enegy policy.

If Biden hadn't stopped fracking on federal lands we would not be so dependent on gulf oil ravged by the hurricane.

Get it now?
 

bongsaway

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Biden will blame it on the hurricane but the truth is prices were already soaring and will now skyrocket because of Biden's poor energy policies.


"Currently, natural gas supplies in storage are 16.8% below year-ago levels and 7.2% below the five-year average"

"The U.S. in recent years has been less reliant on Gulf of Mexico gas production because of fracking and the shale gas revolution. Shale production of natural gas was a historic game-changer as we went from a country that couldn't produce enough to meet our own needs to become the biggest producer in the world. Our increased production of natural gas also dramatically lowered our greenhouse gas emissions as the US was able to replace dirty coal plants with much cleaner-burning natural gas.

Under President Trump U.S. natural gas production grew by 10.0 billion cubic feet per day (Bcf/d) in 2018, an 11% increase from 2017. The growth was the largest annual increase in production on record, reaching a record high for the second consecutive year.

Yet but the anti-drilling campaign by the Biden administration and the desire to push more natural gas production offshore created a situation where U.S. production is stagnant as opposed to growing. Natural gas production fell to 91.7 billion cubic feet in the first half of this year. As a result, natural gas future prices have risen 94% since President Biden was inaugurated. That is the biggest surge in natural gas prices going back to the year 2000. "


And you think in six months this is all biden's fault? Since when does he control the oil and gas industries? Hey did ya' hear? The sky is blue and it's all biden's fault.
 

prometeus

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If only we had fracked all of our aquifers into toxic sand, we might have saved two bucks in December, as the NG companies surely would have passed on the savings to us. To protest, I'm going to dig a two mile deep hole in my backyard and dynamite the bedrock to punish it for not sharing its natural gas.
Instead of complaining, why can't you just contribute? Go out in public and fart.
 
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Obviously you only read the parts that fit your narrative.That's SOP for the left.

natural gas future prices have risen 94% since President Biden was inaugurated. That is the biggest surge in natural gas prices going back to the year 2000. "


"The U.S. in recent years has been less reliant on Gulf of Mexico gas production because of fracking and the shale gas revolution. Shale production of natural gas was a historic game-changer as we went from a country that couldn't produce enough to meet our own needs to become the biggest producer in the world."

Prices for NG were already up 94% due to Bidens enegy policy.

If Biden hadn't stopped fracking on federal lands we would not be so dependent on gulf oil ravged by the hurricane.

Get it now?
Of course I read the whole thing. It's also funny that you had to post an MSN link to try to hide the fact that this is coming from FOX News.
 

tres borrachos

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Biden will blame it on the hurricane but the truth is prices were already soaring and will now skyrocket because of Biden's poor energy policies.


"Currently, natural gas supplies in storage are 16.8% below year-ago levels and 7.2% below the five-year average"

"The U.S. in recent years has been less reliant on Gulf of Mexico gas production because of fracking and the shale gas revolution. Shale production of natural gas was a historic game-changer as we went from a country that couldn't produce enough to meet our own needs to become the biggest producer in the world. Our increased production of natural gas also dramatically lowered our greenhouse gas emissions as the US was able to replace dirty coal plants with much cleaner-burning natural gas.

Under President Trump U.S. natural gas production grew by 10.0 billion cubic feet per day (Bcf/d) in 2018, an 11% increase from 2017. The growth was the largest annual increase in production on record, reaching a record high for the second consecutive year.

Yet but the anti-drilling campaign by the Biden administration and the desire to push more natural gas production offshore created a situation where U.S. production is stagnant as opposed to growing. Natural gas production fell to 91.7 billion cubic feet in the first half of this year. As a result, natural gas future prices have risen 94% since President Biden was inaugurated. That is the biggest surge in natural gas prices going back to the year 2000. "



Uh, the author of your article blamed it on the hurricanes.
 

Chainsawmassacre

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And you think in six months this is all biden's fault? Since when does he control the oil and gas industries? Hey did ya' hear? The sky is blue and it's all biden's fault.
Try actually reading the OP link.


"Yet but the anti-drilling campaign by the Biden administration and the desire to push more natural gas production offshore created a situation where U.S. production is stagnant as opposed to growing. Natural gas production fell to 91.7 billion cubic feet in the first half of this year. As a result, natural gas future prices have risen 94% since President Biden was inaugurated. That is the biggest surge in natural gas prices going back to the year 2000."
 

Chainsawmassacre

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Of course I read the whole thing. It's also funny that you had to post an MSN link to try to hide the fact that this is coming from FOX News.
Obviously you ignored the thrust of the MSN article that blamed Biden's energy policy.
 

bongsaway

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Try actually reading the OP link.


"Yet but the anti-drilling campaign by the Biden administration and the desire to push more natural gas production offshore created a situation where U.S. production is stagnant as opposed to growing. Natural gas production fell to 91.7 billion cubic feet in the first half of this year. As a result, natural gas future prices have risen 94% since President Biden was inaugurated. That is the biggest surge in natural gas prices going back to the year 2000."
Maybe you should try reading your own link?

Hurricane Ida not only hit 90% of natural gas output but also did major damage to key onshore staging areas and because of that, it is taking much longer to restore natural gas production than ever. Over 78% of the Gulf of Mexico's Natural gas production remains offline and there is no clear timeline as to when they can get things back to normal. The pace of recovery, in just the natural gas side of the equation, is one of the slowest recoveries in history, worse than Hurricane Katrina back in 2005.

Instead you blame biden by cherry picking other things in the article but you didn't explain why the drop so I provided the info for you from the same link you posted.
 

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Chainsawmassacre

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Maybe you should try reading your own link?

Hurricane Ida not only hit 90% of natural gas output but also did major damage to key onshore staging areas and because of that, it is taking much longer to restore natural gas production than ever. Over 78% of the Gulf of Mexico's Natural gas production remains offline and there is no clear timeline as to when they can get things back to normal. The pace of recovery, in just the natural gas side of the equation, is one of the slowest recoveries in history, worse than Hurricane Katrina back in 2005.

Instead you blame biden by cherry picking other things in the article but you didn't explain why the drop so I provided the info for you from the same link you posted.
Biden made us more dependent on gulf oil with his anti drilling policies. The hurricane would have far less impact on prices underTrump policies.
 

Chainsawmassacre

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Are you really claiming that the price of ng has nearly doubled this year?
can you read and comprehend?


"natural gas future prices have risen 94% since President Biden was inaugurated."
 

Grand Mal

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If only we had fracked all of our aquifers into toxic sand, we might have saved two bucks in December, as the NG companies surely would have passed on the savings to us. To protest, I'm going to dig a two mile deep hole in my backyard and dynamite the bedrock to punish it for not sharing its natural gas.
Get it all now so we can have cheaper energy. Let the future worry about the future.
I worked with a Hell's Angel called T-Bone years ago. He once said to me, "If there's lots, take lots. If there's only a little, take it all."
 

tres borrachos

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Biden made us more dependent on gulf oil with his anti drilling policies. The hurricane would have far less impact on prices underTrump policies.

Tell yourself whatever you need to believe so you are not out of favor with the cult.

The President of the United States does not impact gas prices. Never did. The liberals who blamed them on Bush learned that. Now the idiots blaming it on Biden need to learn it too.
 

tacomancer

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Biden will blame it on the hurricane but the truth is prices were already soaring and will now skyrocket because of Biden's poor energy policies.


"Currently, natural gas supplies in storage are 16.8% below year-ago levels and 7.2% below the five-year average"

"The U.S. in recent years has been less reliant on Gulf of Mexico gas production because of fracking and the shale gas revolution. Shale production of natural gas was a historic game-changer as we went from a country that couldn't produce enough to meet our own needs to become the biggest producer in the world. Our increased production of natural gas also dramatically lowered our greenhouse gas emissions as the US was able to replace dirty coal plants with much cleaner-burning natural gas.

Under President Trump U.S. natural gas production grew by 10.0 billion cubic feet per day (Bcf/d) in 2018, an 11% increase from 2017. The growth was the largest annual increase in production on record, reaching a record high for the second consecutive year.

Yet but the anti-drilling campaign by the Biden administration and the desire to push more natural gas production offshore created a situation where U.S. production is stagnant as opposed to growing. Natural gas production fell to 91.7 billion cubic feet in the first half of this year. As a result, natural gas future prices have risen 94% since President Biden was inaugurated. That is the biggest surge in natural gas prices going back to the year 2000. "


So you are blaming at least a five year trend on a president who has been in office for 8 months?
 

Grand Mal

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can you read and comprehend?


"natural gas future prices have risen 94% since President Biden was inaugurated."
Yeah, well I deleted that post because I realized it was going to be futile bickering with you about the difference between the price of natural gas now and the price of natural gas futures. If a bunch of speculators lose their shirts playing the commodities futures market, who gives a shit.
This was just on the morning news here. The cost of heating the average home will go up $8 per month.
 

bongsaway

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Biden made us more dependent on gulf oil with his anti drilling policies. The hurricane would have far less impact on prices underTrump policies.
Tell yourself whatever you wish if it makes you feel better.
 
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