They say everything is bigger in Texas, this weekend you can add power usage to that list with Southeast Texas is locked into a strong high-pressure system. Electric Reliability Council of Texas (Ercot), the grid operator for the state said that electricity prices for the power grid rose to over $2,500 a megawatt-hour for Sunday evening. This is a gain of 800% from Saturday’s high of around $275 and will strain the grid. Ercot said that power usage on Sunday … Continue reading “Texas Electricity Prices Surge Over 800% with Power Usage at All Time High”
Haynesville is expected to produce a record 13.6 billion cubic feet per day (bcfd), about 15% of U.S. shale gas output next month. Private equity firms are looking to sell companies and land they own to take advantage of surging natural gas prices. The Haynesville spans northeast Texas and northwest Louisiana, is the second-largest shale gas producing region in the U.S. While the formation has smaller reserves than the Marcellus-Utica play in the Northeast, its proximity to the Henry … Continue reading “With Natural Gas Prices Surging Private Equity Looking to Cash Out of Haynesville Assets”
The EIA in their September 2021 Short-Term Energy Outlook (STEO) forecast natural gas inventories ended August 2021 at about 2.9 trillion cubic feet (Tcf, which is 7% lower than the five-year (2016–20) average for this time of year.
The EIA expect U.S. consumption of natural gas to fall 0.9% from 2020 in part from higher natural gas prices seeing electric power generators switch to coal. They expect U.S. natural gas consumption in 2022 mostly unchanged from 2021 in their September 2021 Short-Term Energy Outlook (STEO).
What comes to mind with the current European energy crisis is the unexpected consequences of decision making without thought of possible headwinds. The current crisis has been borne out of what could best be described as ignorant energy and environmental policies. Putting the cart before the horse the issue with populist kneejerk policy.
US crude exports could take big hit from Hurricane Laura, which is already a Category 4. Argus media reports Laura is set to make landfall near The Port of Beaumont, Texas, later Wednesday. This is the third top port hub for American crude exports.
Predicting weather as we know is difficult, some say just a gamble. Meanwhile climate change science, disaster management, agriculture and energy hedgers and really all of us seek accurate assessments. Will 5G help give us more accurate weather reports?
Canada’s recent election highlighted challenges with income inequality and long-term environmental and economic sustainability. This is highlighted by it’s Inclusive Development Index (IDI) score, ranking 17th overall among advanced economies.
IBM introduced it’s new global weather forecasting system at CES 2019 on Tuesday. The IBM Global High-Resolution Atmospheric Forecasting System (GRAF) was created with subsidiary The Weather Company using supercomputers and crowdsourced data.
This week Natural gas inventories drew -191 Bcf, higher than expected after last week’s -119 Bcf the EIA reported. Futures rest around 10 cents above multi year lows, with warmer weather threats prices remain pressured.