Converting coal fired power plants to clean burning natural seems like such a great idea until the price of Natural Gas suddenly skyrockets as it has before.
It looks like it’ll be a while before the price of natural gas skyrockets.
http://fuelfix.com/blog/2015/08/31/raymond-james-cuts-natural-gas-price-forecast/
HOUSTON — Raymond James lowered its long-term natural gas price estimates Monday, putting the investment banking firm in a growing group of analysts seeing a bleaker future for the fuel.
Raymond James said it had cut its forecast natural gas price through 2020 to $3.25 per million British thermal unit. The prediction is still a slight recovery: In early trading Monday, benchmark Henry Hub prices for natural gas were roughly $2.656 per million Btu.
The new price is far below the $3.75 price that Raymond James had previously forecast through the end of the decade and the $4.00-plus prices seen as recently as 2014.
Strong natural gas production and more efficient drilling led to the revision, Raymond James said in a note to clients Monday.
“Put simply, there is plenty of U.S. natural gas to meet rising demand at prices of $3.25 (or possibly lower) for the next five years,” the firm wrote.
Plus you get NoX released. The higher natural gas prices will also drive the price of electricity up. Some families will be looking at energy poverty.