Posted on 09/15/2022 8:12:37 AM PDT by Hostage
The chairman and CEO of energy company Chevron has warned Americans to brace for price increases in natural gas this winter.
CEO Mike Wirth made the comments in an interview with CNN on Sept. 13 in which he warned consumers that “there’s certainly a risk that costs will go up” when it comes to natural gas.
“Prices already are very high relative to history and relative to the rest of the world. We’re already seeing this impact being felt in the European economy and I do think it’s likely that Europe goes into a recession,” Wirth said.
Europe has been suffering from an energy squeeze in recent months, driven by its decision to wean itself off fuel from Russia in the wake of its invasion of Ukraine along with chronic shortages and a move by some EU countries to phase out coal.
The outlook for Europe this winter is now looking more strained after Russian state-owned energy corporation Gazprom scrapped plans to restart gas flows through its Nord Stream 1 pipeline to Germany earlier this month.
Following what was expected to be a temporary shutdown for routine maintenance, Gazprom said that it could not safely restart gas deliveries through the key pipeline until an oil leak in a critical turbine was fixed. Officials have not yet stated when gas supplies will resume through the pipeline.
While Worth noted that the situation in the United States would not be as bad as it is in Europe, the CEO stated that natural gas prices could still be “significantly higher” this winter in the former.
1. Sell-off of the SPR for political purposes:
2. Their Green New Deal requires PAIN at the pump.
3. They are preparing to blame the PAIN on "Railway Strikes", Russians, greedy oil companies.
4. The coming shortage of fuel will bring restrictions on driving and home energy use
5. The energy restrictions will bring to the fore the placement of ballot dropboxes, stay at home mail-in voting.
Very likely the above will be led by a large false flag incident
Just hope it starts warming up again after the election.
Who coulda seen that comin?
I think the BIG factor is we have greatly ramped up our LNG exports to Europe. The only thing preventing us from exporting more of our natural gas is lack of LNG terminal capacity in Europe. The greens have fought adding LNG terminals there for years.
Bottom line: Americans are going to be paying LOTS more for NG because Europe fecklessly hitched its energy policy to Russia and renewable boondoggles and we are paying for the war in Ukraine.
I bought 500 shares of CVX years ago. Down today but still up 65% you plus 3.5% present dividends.
In some markets a big increase in nat-gas prices will drive a big increase in electricity rates. Regulations over the last decade have been driving coal and nuclear out of business, and replacing them with gas. A gas SHORTAGE in some areas will mean blackouts, because gas can’t be stockpiled at the generator plant sites. It gets worse. . . . .
...and don’t forget, we are ‘Punishing’ Russia by TRIPLING energy prices in the West.
Right.
Children are running our country.
Locally, the children bulldozed two coal plants that had been here forever.
There are now two natgas electrical generation units to replace them.
In some markets a big increase in nat-gas prices will drive a big increase in electricity rates. Regulations over the last decade have been driving coal and nuclear out of business, and replacing them with gas. A gas SHORTAGE in some areas will mean blackouts, because gas can’t be stockpiled at the generator plant sites. It gets worse. . . . .
Oil and nat. gas are two different markets but both are a path to wealth, love them. Only thing that compares as an investment is real estate.
My monthly nat gas royalty checks have gone from a total of $200 a month to $1,200 a month in the last year or so.
There are literally 4 Oceans of NG in the Continental US. But their pipelines and leases have been canceled, and permits for their distribution and export are not approved.
I have posted on this subject since 2014. I was a partner with a company owned by T Boone Pickens for a venture covering the Bakken. Obama’s admin slow walked the permit review and denied the application after a year and half.
Been holding two big pipeline companies for years. They go up and down in price but pay over 7% in dividends, tax advantaged due to being MLPs.
Pickens paid my Mother $25k for a Wind Turbine Pad site and $5k for ROW for cable on her ranch.
Never built anything. Even with the govt subsidy I guess the return wasn’t good enough. There are Turbines in the area, don’t know if he built them or someone else, west central Texas.
The price of natural gas on the commodities market (Henry Hub) is currently up 257.97% since President Trump’s last day in the WH.
Green is the new Red.
Biden’s incompetence is great news for the Oil Companies.
When Biden killed the Keystone Pipeline on his first day in office, the oil company stock prices increased and most of their stock prices are now at all-time highs.
Have a Stihl 361, 280, 260,and a T200 top handle.
Have lots of standing dead pecan , oak, and hickory trees.
800 gal. Propane in the tank.
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