I had briefly considered a seasonal hiatus regarding the NatGas reports, but something popped up in my in basket, telling me to hold on for at least another 6 weeks. The Groundhog didn't lie, just missed the timing!!
The Energy Information Administration released their weekly report Thursday.
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Prices keep slipping everywhere. Even in the UK, the price range is £1,800 ~ £2,300 (annual), compared to last summer's £3,600 ~ £5,400 (annual).
Prices are low due to decreased demand, due to much warmer temps, etc. Prices are so low, the need for added storage is being reduced, companies are considering cutting back on drilling, etc.
Spring is in the air and everything looks great. Why am I being so sarcastic?
Climate change leads many to think solely in terms of global warming. On average, that would be correct. But climate change is all about extreme weather events. We acknowledge these events when it is due to significant flooding, droughts, hurricanes, extreme cold snaps, etc.
However, we seem to disregard those mild temps. Much of Europe is in an extreme weather event. Law of averages will level that out, AND possibly in the near future.
Good luck!!
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