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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. "
"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. "