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31 comments on Energy Prices, Inflation and Denial
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31 comments on Energy Prices, Inflation and Denial
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US nat gas prices are still falling from the Katrina spike. Removing that, the baseline trend is up. As in the UK, US nat gas consumption has fallen these last two years - so there is substitution / demand destruction set against a backdrop of rising price.
your us spot prices must be some sort of average price. spot ngas prices in the us, post katrina, were around $15/mmbtu.
Yes - its the annual average that is plotted.
Not per the EIA: 2007 with Dec. Est.
Gas delivered to customers is up 1 trillion Cu. ft.
Imports are up 400 billion Cu. ft.
Production is up 500 billion Cu. ft.
Unconventional plays a big role in the United States - perhaps Canada, also.
Unconventional has been rising while conventional declines. Unconventional is very much tied to technology. There is a lot of unconventional out there (like shale gas), if we could get it out without too much cost.