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Energy Market Snapshot: April 15, 2024
NATURAL GAS PRODUCTION The Natural Gas Market remained essentially unchanged. Weakening weather demand and inconsistent LNG demand allowed pricing to stay low, and even production jumped about 2 Bcf/d last week to quash any chance of a market rally that would see significant price increases. EIA NATURAL GAS STORAGE Weather...
Energy Market Snapshot: April 8, 2024
NATURAL GAS PRODUCTION The Natural Gas market is undergoing a significant transformation, with drillers scaling back production. This has resulted in a consistent 4-5 weeks of production declines, culminating in last week’s output of less than 100 Bcf/d. This is a significant development, marking the lowest production levels since...
Maryland Leaders Strike Compromise for Data Centers Energy
🌿 Exciting developments in Maryland! 🎉 Environmental leaders and legislators strike a compromise to streamline environmental procedures for data centers, securing vital tax revenue for clean energy initiatives. Dive into the details via Maryland Matters: https://www.marylandmatters.org/2024/03/30/green-group-drops-opposition-to-amended-data...
Energy Market Snapshot: April 1, 2024
NATURAL GAS STORAGE We are now in the injection season with a substantial +669 Bcf surplus over the five-year average. This surplus and robust oil production numbers will likely keep prices relatively stable, hovering within a dollar or two of these prices until at least next spring. OUR GAS SURPLUS Production cuts are tak...
Oil & Gas Leaders Spread Misinformation About Clean Energy
⛽ At a Texas energy conference, oil and gas leaders argued that the clean energy transition falters despite significant investment. They advocate for costly and unproven measures like carbon capture and hydrogen to sustain their industry. Read more: https://www.theguardian.com/environment/2024/mar/20/fossil-fuels-oil-and-gas-clean-energy
US Electricity Prices Increasing, Outpacing Inflation!
💡💸 Brace yourselves: US electricity prices are rising, outpacing annual inflation! 📈 Analysts point to transmission costs and federal policies as key drivers behind the reported 3.6% increase, according to the Bureau of Labor Statistics. Get the full scoop on this electrifying update >>
Energy Market Snapshot: March 11, 2024
NATURAL GAS STORAGE The weather continues to be historically mild, with only occasional upticks that get erased quickly. There is no guarantee that next winter will continue to have record-breaking mild winters, and betting that we will continue to break the record for mild winters every year as we have the last two is a good way to get...
Grid Updates: Power Grid Lags in Building Out
Progress on building the power grid lags even as Congress wades through permitting reform bills and regulators advance measures to speed interconnection. Read The Article >>
Energy Market Snapshot: Feb. 19, 2024
NATURAL GAS STORAGE The EIA reported a withdrawal of 49 Bcf out of underground storage for the week ending February 9, 2024, vs. an estimated withdrawal of 71 Bcf. Inventories are 2,535 Bcf, 255 Bcf or 11.2% more than the same period last year, and 348 Bcf or 15.9% more than the 5-year average. NATURAL GAS PRODUCTION Th...
