{"id":1467671,"date":"2022-05-08T07:29:49","date_gmt":"2022-05-08T11:29:49","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1467671"},"modified":"2022-05-08T07:29:53","modified_gmt":"2022-05-08T11:29:53","slug":"the-great-natural-gas-price-hike-of-2022-is-here","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/the-great-natural-gas-price-hike-of-2022-is-here\/","title":{"rendered":"The Great Natural Gas Price Hike Of 2022 Is Here"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">20<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fthe-great-natural-gas-price-hike-of-2022-is-here%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1467671&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><\/div>\n<p><b>Why Natural Gas Prices Just Hit a 14-Year High \u2013 <\/b><span>As U.S. fuel prices <\/span><a href=\"https:\/\/www.reuters.com\/business\/energy\/us-fuel-prices-surge-faster-than-crude-exports-tighten-market-2022-05-06\/\"><span>surge fast than crude oil<\/span><\/a><span> over the <a href=\"https:\/\/www.19fortyfive.com\/2022\/02\/does-the-ukraine-crisis-mean-record-oil-prices\/\">last month<\/a>, the United States is facing an <a href=\"https:\/\/www.19fortyfive.com\/2022\/03\/joe-bidens-plan-to-lower-gas-prices-release-180-million-barrels-of-oil\/\">energy crisis<\/a> that just <a href=\"https:\/\/www.19fortyfive.com\/2022\/03\/joe-bidens-new-stimulus-check-for-2022-pre-paid-gas-cards\/\">keeps getting worse<\/a> \u2013 and as Americans suffer at the gas pump, the cost of natural gas is rising rapidly too.\u00a0<\/span><\/p>\n<p><span>Natural gas, an essential fuel for consumers who use it to heat their homes and generate electricity and industries that use it to create petrochemicals and plastic products, surpassed the $8 per thousand cubic feet price over the last week. At a fourteen-year high, the rapid price increase will cause further trouble for the United States economy as inflation already <\/span><a href=\"https:\/\/tradingeconomics.com\/united-states\/inflation-cpi\"><span>surpassed 8.5%<\/span><\/a><span> in March this year.<\/span><\/p>\n<p><span>CEO of brokerage Powerhouse Alan Levine offered thoughts on the US natural gas market, suggesting that price uncertainty will remain for some time.\u00a0<\/span>\n<\/p>\n<p><span>\u201cThe terms and conditions of natural gas markets are just not the same as they used to be,\u201d <\/span><a href=\"https:\/\/www.spglobal.com\/commodityinsights\/en\/market-insights\/latest-news\/natural-gas\/050422-us-natural-gas-prices-surge-above-8mmbtu-in-irrational-market\"><span>Levine said.<\/span><\/a><span> \u201cAll you can do is speculate what might happen.\u201d<\/span><\/p>\n<p><span>So, what\u2019s causing the price spike?<\/span>\n<\/p>\n<p><b>Weather<\/b><\/p>\n<p><span>The weather is perhaps the biggest driving factor behind the spike. Many parts of the United States are experiencing hotter-than-normal weather for spring, creating a greater demand for electricity to power air conditioning and other cooling systems. As natural gas is used to generate electricity, the weather is causing a spike in demand for electricity.<\/span>\n<\/p>\n<p><span>In Texas, the Dallas-Fort Worth area hit 95 degrees for the first time this year \u2013 a dramatically higher temperature than normal for this time of year. Experts predict that temperatures could even reach 105 degrees in some parts of the state.<\/span>\n<\/p>\n<p><span>Meteorologist Daniel Huckaby said that current forecasts predict \u201c<\/span><a href=\"https:\/\/www.star-telegram.com\/news\/weather-news\/article261167897.html\"><span>near-record high temperatures<\/span><\/a><span>\u201d from Mother\u2019s Day through Tuesday.<\/span>\n<\/p>\n<p><span>Similar temperature increases have been felt in California.<\/span>\n<\/p>\n<p><b>Supply<\/b>\n<\/p>\n<p><span>Liquefied natural gas supplies are also unstable at present, with fewer exports coming from Russia. Sanctions against Russian energy suppliers have forced many European nations to look elsewhere for energy. Japan is also looking for ways to diversify its energy supply and move away from Russian LNG, making demand even hotter.\u00a0<\/span><\/p>\n<p><span>In Europe, gas prices have risen even higher than in the United States \u2013 prompting the Biden administration to <\/span><a href=\"https:\/\/www.reuters.com\/business\/energy\/why-are-us-natural-gas-prices-soaring-2022-05-06\/\"><span>move some cargoes<\/span><\/a><span> of LNG to Europe. The U.S. typically uses most of the natural gas it uses \u2013 producing around 97 billion cubic feet of gas per day. It\u2019s enough for domestic use and some exports, but increasing exports means that there is less gas in the United States\u2019 storage tanks than normal. Stored natural gas is currently 16% below the five-year average.<\/span>\n<\/p>\n<p><span>The United States has the capacity to increase supply, but it cannot be done overnight. Japan, faced with a struggle to replace Russian energy supply and considering reopening many of its nuclear reactors, is also considering the possibility of <\/span><a href=\"https:\/\/asia.nikkei.com\/Business\/Energy\/Japan-considers-financial-support-to-boost-U.S.-LNG-output\"><span>providing financial support<\/span><\/a><span> to boost the production of LNG in the United States.\u00a0<\/span>\n<\/p>\n<p><i><span>Jack Buckby is a British author, counter-extremism researcher, and journalist based in New York. Reporting on the U.K., Europe, and the U.S., he works to analyze and understand left-wing and right-wing radicalization, and reports on Western governments\u2019 approaches to the pressing issues of today. His books and research papers explore these themes and propose pragmatic solutions to our increasingly polarized society.<\/span><\/i>\n\t\t\t<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Why Natural Gas Prices Just Hit a 14-Year High \u2013 As U.S. fuel prices surge fast than crude oil over the last month, the United States is facing an energy<\/p>\n","protected":false},"author":498,"featured_media":2315279,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1467671","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1467671","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/498"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1467671"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1467671\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1467671"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1467671"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1467671"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}