Natural Gas Price Meltdown

[Blaithin]

What?!

You mean when there's no longer such a strong monopoly for one energy source.... the price of it will drop?!

I'm sure they never teach that. It can't be realistic. Must be leftist media lies.

[AlbertaFarmer5]

WRONG, NatGas is cheap because no one wants it and is being displaced by wind and solar.

Exactly... you've just made chuck so proud, but may have forgotten the sarc tag. US nat gas usage only up 30% in the past 10 years.

https://www.eia.gov/dnav/ng/hist/n9140us2a.htm https://www.eia.gov/dnav/ng/hist/n9140us2a.htm

[AlbertaFarmer5]

What?!

You mean when there's no longer such a strong monopoly for one energy source.... the price of it will drop?!

I'm sure they never teach that. It can't be realistic. Must be leftist media lies.

As a fellow Albertan, I am giving you the benefit of the doubt that you are also being sarcastic. But in case you aren't, here is a brief explanation.

You've likely heard of a phenomenon called fracing, and how it has revolutionized the NA energy industry. They are looking for oil, but in most formations, there is also copious amounts of gas. This quantity quickly overwhelmed the existing infrastructure, and available markets, causing prices to crash, likely not to recover to previous levels for many decades to come. Capitalists being opportunists, have been finding no end for new and increased uses of this now nearly free energy source. Hence the massive increase in use since the fracing revolution started. Energy intensive industries are coming back onshore, coal power plants are being converted, buses and trucks are being converted. petrochemical industries are being built or expanded using Nat gas as a feedstock, heating is being converted etc. etc. But nowhere close to fast enough to use the ever increasing surplus, for which there are very very limited ways or places to store it, and limited opportunities ( so far) to export it. All is being exacerbated by anti pipeline and anti industry policies both in Canada and in many states. But mostly it is being flared since it is not cost effective to get rid of it any other way. An absolute crime against our children and grandchildren.

In the meantime we have twits such as the misguided politicians in Berkely, banning new natural gas installations:
https://www.theguardian.com/environment/2019/jul/23/berkeley-natural-gas-ban-environment https://www.theguardian.com/environment/2019/jul/23/berkeley-natural-gas-ban-environment

Have to force people to use the more expensive options when natural gas became so cheap that nothing can compete, not even free wind or sunshine. Meanwhile the same gas is still being burnt in flares releasing the same amount of CO2, but doing absolutely no good to anyone...

[sawfly1]

Thanks for that educational post Alberta

[jazz]

Leaving abundant cheap and efficient natural gas in the ground to favour wind and solar would be the equivalent of passing up a free buffet to go try and catch your food by hand. I could see chuck doing just that.

[AlbertaFarmer5]

Leaving abundant cheap and efficient natural gas in the ground to favour wind and solar would be the equivalent of passing up a free buffet to go try and catch your food by hand. I could see chuck doing just that.

Then when he brings himself to the brink of starvation, demand that the rest of us pay for his medical bills and rehabilitation.

[blackpowder]

I went on a 6 day road trip last week and didn't see one idle pumpjack. Saw a flare. Things look good down south. A lot less PPE haha.

Oh but I did see every wind turbine I came across sitting idle.


And crap, what are all these big ass powerlines doing in Alberta when we're closing down coal??

So tired of being lied to..
So many naive voters