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Natural gas price spikes 25% on soaring demand

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Posted By: Imright, 10/6/2021 12:33:15 PM

European and UK gas prices surged on Wednesday by more than 25 percent, energised by soaring demand before the northern hemisphere winter.Europe’s reference Dutch TTF gas price jumped to 145.19 euros per megawatt hour and UK prices soared to 347.27 pence per therm. The two markets had already rocketed in earlier deals to record peaks at 162.12 euros and 407.82 pence, respectively. “It’s panic and fear with winter just around the corner,” Commerzbank analyst Carsten Fritsch told AFP.Runaway gas prices — coupled with oil that this week struck multi-year highs — have fuelled global concern over spiking inflation.

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Reply 1 - Posted by: Ribicon 10/6/2021 12:39:49 PM (No. 937056)
You will freeze in your tiny homes, and you'll like it. FTA: "Runaway gas prices — coupled with oil that this week struck multi-year highs — have fuelled global concern over spiking inflation." Governments, which devour ever-increasing amounts of money from the economy, have to be funded somehow. They produce nothing but drag on the economy, and they're to the point where they print money to bridge the gap, in the process blaming the rest of us for rising prices. Clever enough to fool the masses.
5 people like this.

Reply 2 - Posted by: DVC 10/6/2021 12:41:00 PM (No. 937058)
"Soaring demand?" It's called winter coming on. Demand will "soar" some more in Nov thru March.
10 people like this.

Reply 3 - Posted by: Come And Take It 10/6/2021 12:47:59 PM (No. 937071)
Nonsense. Supply has fallen because Xiden managed to put all the tight oil prospectors out of business. NG is a secondary product of oil exploration. You can't heat a home with a damn windmill. Electric heat sucks anyway - I have a dual-fuel heat pump that works more conventionally when temps fall below freezing. Electric heat is grossly inefficient, more expensive and simply doesn't warm a home like gas / forced air does. Thanks to Gov. Fat Bas+ard here in Illinois, all the coalers are gone and he is forcing NG out of business as well for electrical generation. We are getting high-price power alerts regularly already - 9.0 - 10.0 cents a KwH when the temps are running 70 degrees. That's about 4 times what I used to pay when we were a net exporter of power to other states.
6 people like this.

Reply 4 - Posted by: Halfvast Conspirator 10/6/2021 1:36:11 PM (No. 937152)
Pootie is smiling and happy at the prospect of all those euros rolling in come November
6 people like this.

Reply 5 - Posted by: Rather Read 10/6/2021 1:56:12 PM (No. 937182)
I have natural gas heat. It works quite well and is not too expensive (for now). I know the chattering classes would love to have us freeze in the dark, damn them.
5 people like this.

Reply 6 - Posted by: Ida Lou Pino 10/6/2021 3:07:32 PM (No. 937257)
Don't worry - - the windmills are ready to start cranking it out. Who need energy from natural gas - - when you've got spinning blades to provide it?
2 people like this.

Reply 7 - Posted by: DVC 10/6/2021 3:59:51 PM (No. 937295)
Re: #6. Driving across Kansas yesterday, about 3/4 of the windmills were not putting out power. I despise these eyesores for wrecking the prairie views in much of the middle of the country, in addition to their ultra-expensive, unreliable power output.
5 people like this.

Reply 8 - Posted by: Geoman 10/6/2021 4:06:56 PM (No. 937302)
#3 hits it on the head. While not absolute in all petroleum reservoirs, NG is most commonly a by-product of oil production. In a lot of oil fields, the net production of NG exceeds the BTU value of the oil produced. By demonizing and limiting hydraulic reservoir fracturing (fracking), especially critical for producing oil and gas from tight (low natural permeability) formations, and eliminating new pipeline construction, Biden's policies have forfeited our energy independence and put us right back under the whims of the often hostile OPEC countries. As a result, look for both NG, gasoline, and diesel prices to continue to climb.
5 people like this.

Reply 9 - Posted by: smokincol 10/6/2021 4:37:31 PM (No. 937332)
looks like it might be a long rather chilly winter, everywhere. thanks, diapers, you commie rat!!
2 people like this.

Reply 10 - Posted by: bad-hair 10/6/2021 5:42:27 PM (No. 937374)
Happy Winter New York Turn up the sun dials California.
0 people like this.

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