The current dip in natural gas prices is about to end as winter approaches and experts are warning that the price for natural gas is about to reach monumental proportions before the year is out.
According to the president of Lipow Oil Associates, Andy Lipow, President Joe Biden has not done enough to lower natural gas prices and that prices are about to rise astronomically once winter rolls around again.
“As we go into the winter, especially the latter half of September, we could see additional relief at the pump of another 15 cents a gallon as refiners begin making that winter blend and that cheaper gasoline cost is passed through to the consumer,” said Lipow.
“When we look at utilities going forward this winter, especially with the soaring price of natural gas, which has doubled since this time last year, the consumer is going to be paying far more for natural gas this upcoming winter heating season. That’s also going to filter into higher electricity costs as 39 percent of our electricity is generated from natural gas.”
Managing director for energy research at Truist Financial, Neal Dingmann, noted that American natural gas prices could spike as high as 60 percent this coming winter if the global energy crisis continues on the current path.
“Natural gas prices this year have hit 14-year highs, and we don’t think that’s the end of it. We think we could even see a super-spike potentially this winter that we would put them back to 20- or 25-year highs,” said Dingmann.
Chief marketing strategist for SIA Wealth Management Colin Cieszynski, noted that August and this coming September has “historically been a seasonally stronger time of the year for natural gas, related to a combination of potential supply disruptions from hurricanes and anticipation of the upcoming home heating season.”
“[But this year], issues related to Russian natural gas supply into Europe have also been a factor,” he added.
Dingmann noted that government-imposed limitations are about to put a huge amount of strain on America’s energy grid, adding that production of liquified natural gas (LNG) is only around 10 percent in the United States.
“The story is capacity, capacity, capacity, and that’s just lack thereof,” noted Dingmann.
According to Dingmann, there are hardly any reserves in supply to fall back on and inventories at the lowest levels they have been in five years and current supply for winter is already 10 percent lower than average.
Supplies will also suffer as Europe attempts to rip themselves away from relying on Russian oil and gas, and as a result, American LNG is in short supply for Americans as a vast majority of it gets exported overseas.
U.S Freeport LNG is expected to increase its output in the coming months, but this is also for export and not domestic supply.
Go back to COAL, it is the least expensive energy source & the U.S. sits on the largest supply in the world.
Coal Power Plants are more efficient for the cost, than any other method. The coal industry provides good paying jobs for thousands. It is a win-win for the U.S.A… Piss on the tree huggers & environmentalists who fly around in jets preaching their B/S. They buy electric cars that have to be charged by electricity produced by coal or gas power plants. RETARDED IDIOTS.
The idea of electric vehicles is absolutely insane. The price of an ev is high. To charge the battery of an ev (if you can find a charging station) is astronomical. It still takes gas to make electric vehicles. There are more examples of the electric vehicle – I don’t have room to write them all and really don’t know all of them. The above examples are what I have read and listened to. That is enough info to make me want nothing to do with them.