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RTH10260
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Gas

#1

Post by RTH10260 »

Natural gas prices are rising and could be the most expensive in 13 years this winter
PUBLISHED THU, SEP 9 20213:59 PM EDTUPDATED FRI, SEP 10 202111:45 AM EDT
Patti Domm

KEY POINTS
  • Natural gas prices have been racing higher and are now 99% higher year-to-date, on combination of supply concerns and rising demand.
    Natural gas is expected to keep rising, and if there is an especially cold winter, Goldman Sachs analysts see the potential for another doubling of price.
    The jump in prices will impact some consumers who use it for heat, and utilities and companies that use it in production processes.
    In this article
Why natural gas stocks have nearly doubled this year

Natural gas prices have doubled this year and are expected to continue to rise, resulting in larger winter heating bills for some consumers and higher costs for electric utilities.

Natural gas is plentiful in the United States and has been cheap for years, so the jump in prices this year is eye popping. It has also lifted the shares of companies that specialize in natural gas production, like EQT, Range Resources, Cabot Oil and Gas and Antero Resources.

In the futures market, the natural gas contract for October rose above $5 per one million British thermal units, or mmBtus, for the first time since February, 2014. Besides electricity and heating demand, natural gas is an important feed stock and is used in the processing of chemicals, fertilizers, paper and glass, among other products.



https://www.cnbc.com/2021/09/09/natural ... inter.html


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Re: Gas

#2

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Tackling soaring energy bills, Spain to cap gas price, utilities' profits
By Nathan Allen

MADRID, Sept 14 (Reuters) - Spain's cabinet passed emergency measures on Tuesday to reduce sky-high energy bills by redirecting billions of euros in extraordinary profits from energy companies to consumers and capping increases in gas prices.

By limiting the profits that hydro- and other renewable power generators can make from surging electricity prices, the government expects to channel some 2.6 billion euros ($3.07 billion) from companies to consumers in the next six months.

Energy Minister Teresa Ribera told a news conference the measure would remain in place until the end of March, when natural gas prices are expected to stabilise after consumption falls from winter peaks.

In parallel, Spain will use an extra 900 million euros it expects to raise by auctioning carbon emission permits this year to reduce bills, citing high market prices as the reason for the additional funds.

In parallel, Spain will auction an extra 900 million euros in carbon emission permits this year, with the proceeds to be used to reduce bills.


https://www.reuters.com/business/energy ... 021-09-14/


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Re: Gas

#3

Post by RTH10260 »

German Power, Carbon Rise to Record on Soaring Gas Prices
By Jesper Starn and Rachel Morison
September 6, 2021, 9:06 AM GMT+2 Updated on September 6, 2021, 10:06 AM GMT+2
  • Contract for next year surpasses previous high set in 2008
    Rally for gas, coal and carbon boosts power-generation costs
European power and carbon prices surged to a record, driven by the soaring costs of other energy commodities.

Global energy demand is picking up after the pandemic and a supply crunch in the gas market is boosting the cost of power generation. Hot weather and low wind speeds are curbing renewable power production, while the price of coal -- the dirties of fossil fuels -- has also surged more than 70% in Europe this year.

The rising costs are a pain for consumers and businesses recovering from the pandemic. They also come in the summer, when demand is usually low, setting the stage for a difficult winter. Utilities across Europe are hiking prices at the same time as everything from food to transport costs are also rising, a headache for politicians.

German front-year surpass 2008 record

“As the current strength in wholesale prices increasingly feeds through to retail tariffs in coming months, there’s likely to be growing focus on the role of governments in mitigating the impacts of the rises in both the short and medium term,” said Glenn Rickson, head of European power analysis at S&P Global Platts in London.

Germany Flirts With Power Crunch in Nuclear and Coal Exit

Next-year power in Germany, the regional benchmark, rose 1.2% on Monday to as high as 91 euros per megawatt-hour on European Energy Exchange AG. Gas prices have soared more than 170% this year, while carbon futures have climbed to 63 euros a metric ton, an all-time high.



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Re: Gas

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Post by Volkonski »



Looks bad. Come winter things could get ugly.


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Re: Gas

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“If everyone fought for their own convictions there would be no war.” ― Leo Tolstoy, War and Peace
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“If everyone fought for their own convictions there would be no war.” ― Leo Tolstoy, War and Peace
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#7

Post by Volkonski »

Coal-fired power is on the rise in America for the first time since 2014

https://www.cnn.com/2021/10/18/business ... index.html
In a blow to the climate movement, US power companies are ramping up their coal consumption due to surging natural gas prices.

US coal-fired generation is expected to surge by 22% in 2021, the US Energy Information Administration said Monday. That would mark the first annual increase in coal-fired electric power generation since 2014, the EIA said.

Coal was long the main fuel source for the US power grid — even though its environmental footprint is the largest.
In recent years, utilities ditched coal because of concerns about the climate crisis and due to the abundance of very cheap natural gas. US coal consumption fell in 2019 for the sixth straight year, dropping to the lowest level since 1964, as natural gas prices fell to record lows.


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Re: Gas

#8

Post by AndyinPA »

:brickwallsmall:


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Post by Volkonski »



Hard on some rural areas.


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Re: Gas

#10

Post by Volkonski »

400,000 Texas homes and businesses could lose power over financial dispute between energy companies
Vistra Corp. asked the Railroad Commission of Texas to prevent Energy Transfer LP from cutting off fuel to five of its power plants on Monday. Vistra said the power supply to at least 400,000 homes and businesses could be impacted.


https://www.texastribune.org/2022/01/19 ... ium=social
With freezing weather sweeping into Texas late this week, subsidiaries for a major pipeline company are threatening to cut off natural gas to the state’s largest power generator — which could impact the electricity supply for hundreds of thousands of customers — over a financial dispute stemming from last February’s deadly winter storm.

Vistra Corp. subsidiary Luminant on Wednesday asked the Railroad Commission of Texas, which regulates the state’s oil and gas industry, to prevent Energy Transfer LP from cutting off fuel to five Vistra power plants, which produce enough electricity to power 400,000 Texas homes, businesses and critical infrastructure such as hospitals and schools.

Railroad Commission officials have not responded to questions about whether the agency will act.

The companies under Energy Transfer, the pipeline company, have told Vistra that gas will stop flowing to five Vistra power plants on Monday unless Vistra pays Energy Transfer $21.6 million, according to the filing.

The “threat to terminate service in the middle of winter is illegal and grossly irresponsible and should be prohibited by this Commission,” Vistra said in the complaint to the Railroad Commission.
Non-Texans need to know the the Railroad Commission has a lot to do with fossil fuel production because it oversaw a lot of land when fossil fuel production began. It no longer has anything to do with railroads and should be renamed.


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Re: Gas

#11

Post by bill_g »

So much for the market doing it faster, better, cheaper, more efficiently. Pay me or die.


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Re: Gas

#12

Post by RTH10260 »

Volkonski wrote: Thu Jan 20, 2022 1:42 pm 400,000 Texas homes and businesses could lose power over financial dispute between energy companies
Vistra Corp. asked the Railroad Commission of Texas to prevent Energy Transfer LP from cutting off fuel to five of its power plants on Monday. Vistra said the power supply to at least 400,000 homes and businesses could be impacted.


https://www.texastribune.org/2022/01/19 ... er-winter/

:snippity:
Non-Texans need to know the the Railroad Commission has a lot to do with fossil fuel production because it oversaw a lot of land when fossil fuel production began. It no longer has anything to do with railroads and should be renamed.
[/quote]

The article does not provide key information. Is Vistra back in payments, or does Energy Transfer want extra prepayments cause of rising cost to buy gas for distribution.


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#13

Post by raison de arizona »

Texas pipeline company walks back threat to cut off gas to power plants
The new development ends the immediate threat that up to 400,000 customers could lose power, but the underlying financial dispute between two energy giants stemming from last February's winter storm remains unresolved.
:snippity:
The pipeline companies had told Vistra that gas would stop flowing to the power plants on Monday unless Vistra paid Energy Transfer $21.6 million that they claim Vistra owes them, according to Vistra’s complaint to the Railroad Commission of Texas, which regulates the state’s oil and gas industry.
:snippity:
https://www.texastribune.org/2022/01/20 ... -pipeline/


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Re: Gas

#14

Post by Volkonski »

US putting together 'global' strategy to increase gas production if Russia invades Ukraine, officials say

https://www.cnn.com/2022/01/23/politics ... index.html
The Biden administration has been in regular discussions with a number of countries and companies in Europe, the Middle East, North Africa and Asia about stepping up production of liquefied natural gas to Europe in the event that a Russian invasion of Ukraine leads to gas shortages, multiple US officials familiar with the discussions told CNN.

The State Department, led by Senior Adviser for Energy Security Amos Hochstein, has in the last six to eight weeks been putting together a global strategy exploring contingency options to redirect and increase gas supplies from different parts of the world, a senior US official said.

Reuters reported last week that Hochstein had been in talks with energy companies but that increased production was not a request. The senior US official told CNN that increased production has in fact been discussed, but that companies recognize that increasing production could be risky and would take time.

The countries engaging in the talks include Norway and Qatar, the official said, but the US' outreach has been "truly global" as Washington and allies determine what supplies will be needed to get through the winter and spring if there are gas shortages.


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#15

Post by raison de arizona »

Gasoline prices are nutso. I paid $4.50/gallon last tank, like a week or two ago. This morning I paid $5.25! Anyway, apparently tfg can "tweet oil out of the ground" so we all better re-elect him on March 27th or whatever. :mrgreen:


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Re: Gas

#16

Post by Phoenix520 »

I know it’s a hardship, but gas prices should be high, for chrissakes. Cheap fuel’s how we got into this climate predicament.

Americans are shellfish*.


*An autocorrect. I left it.


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Re: Gas

#17

Post by June bug »

Phoenix520 wrote: Mon Mar 07, 2022 3:19 pm I know it’s a hardship, but gas prices should be high, for chrissakes. Cheap fuel’s how we got into this climate predicament.

Americans are shellfish*.


*An autocorrect. I left it.
:yeahthat:

And I like that autocorrect!


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#18

Post by raison de arizona »

Yeah, on the one hand, I'm OK with high gas prices for a number of reasons. On the other hand, the fact that record oil company profits are one of those reasons rubs me the wrong way. Way to take advantage of the situation.


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Re: Gas

#19

Post by tek »

:yeahthat:

Oil companies are making bank on this. Huge stock buybacks.


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Re: Gas

#20

Post by Maybenaut »

Gas was $3.99 per gallon in Luray today. It's usually around $3.25.

But we have an EV and a solar generator that produces more than enough power to charge it.


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Re: Gas

#21

Post by John Thomas8 »

Maybenaut wrote: Mon Mar 07, 2022 6:47 pm Gas was $3.99 per gallon in Luray today. It's usually around $3.25.

But we have an EV and a solar generator that produces more than enough power to charge it.
I borrowed a car while I try to find non-Covid pricing to get mine fixed. It runs on hi-test. Hi-test has bounced from $3.99 to $4.99 in the past three weeks and sits at $4.57 now.

It sincerely sucks, since before pootin moved stupid from potential to actual the prices were down to $2.99 or so.


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Re: Gas

#22

Post by AndyinPA »

Phoenix520 wrote: Mon Mar 07, 2022 3:19 pm I know it’s a hardship, but gas prices should be high, for chrissakes. Cheap fuel’s how we got into this climate predicament.

Americans are shellfish*.


*An autocorrect. I left it.
Gas prices are much higher in most places in the world, of course.


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Re: Gas

#23

Post by MN-Skeptic »

AndyinPA wrote: Tue Mar 08, 2022 11:48 am
Phoenix520 wrote: Mon Mar 07, 2022 3:19 pm I know it’s a hardship, but gas prices should be high, for chrissakes. Cheap fuel’s how we got into this climate predicament.

Americans are shellfish*.


*An autocorrect. I left it.
Gas prices are much higher in most places in the world, of course.
I'd wager the folks here in the U.S. are more dependent on their personal vehicles. Affordable public transportation has not been a priority.


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Re: Gas

#24

Post by Foggy »

Yes, but everyone stopped driving as much since the pandemic. I'm going up to see my dad for the third time since it hit ... but I would have been up there 10 times by now if not for the pandemic. And I'm still not driving as much around our beautiful state capital, either. We just don't drive as much, period.

So higher gas is a little bit of an issue, but not as much as it would be in prior years.


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Re: Gas

#25

Post by raison de arizona »

Additionally, it's possible that as a larger country, Americans tend to drive further distances.
Image
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