• 4 minutes Energy Armageddon
  • 6 minutes How Far Have We Really Gotten With Alternative Energy
  • 10 minutes Wind droughts
  • 1 day "Biden Is Running U.S. Energy Security Into The Ground" by Irina Slav
  • 24 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 5 hours "Natural Gas Price Fundamental Daily Forecast – Grinding Toward Summer Highs Despite Huge Short Interest" by James Hyerczyk & REUTERS on NatGas
  • 4 hours "How to Calculate Your Individual ESG Score to ensure that your Digital ID 'benefits' and money are accessible"
  • 12 hours Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 7 days "Forget Oil, The Real Crisis Is Diesel Inventories: The US Has Just 25 Days Left" by Zero Hedge - 5 Stars *****
  • 5 hours The Federal Reserve and Money...Aspects which are not widely known
  • 5 days Is Europe heading for winter of discontent with extensive gas shortages?
  • 12 hours "Europe’s Energy Crisis Has Ended Its Era Of Abundance" by Irina Slav
  • 11 hours "Dodgy Demand Data? The Oil Price Collapse Conspiracy" by Alex Kimani
  • 7 days "The Global Digital ID Prison" by James Corbett of CorbettReport.com
  • 8 days Goldman Betting on Cryptocurrencies
  • 12 days Сryptocurrency predictions
Are Oil And Gas Lobbyists Influencing The COP Summits?

Are Oil And Gas Lobbyists Influencing The COP Summits?

Environmentalists fear that the next…

Polar Vortex Tests U.S. Natural Gas, Electric Systems

Natural gas and electricity networks in the United States have proved resilient during the polar vortex this week, while natural gas futures prices even dropped during one of the coldest snaps in the Midwest in decades.

The natural gas and electric systems across the U.S. have been under less pressure compared to the previous polar vortex in 2014.

PJM Interconnection, the electric grid operator for all or parts of 13 states from New Jersey to Illinois, has reported no realibility issues so far. Natural gas use in the United States hit a record on Wednesday, according to estimates by financial data provider Refinitiv, quoted by Reuters.

Some utilities have urged their customers to voluntarily reduce gas use. Consumers Energy of Michigan urged on Wednesday customers to voluntarily cut gas use as a result of an unexpected incident at a Gas Compressor station in Southeast Michigan. The company also required industrial and large business customers to temporarily curtail processes.

Even before the polar vortex hit, natural gas stocks for the week ending January 25 were 14 Bcf less than this time last year and 328 Bcf below the five-year average, the Energy Information Administration said on Thursday.

Yet, natural gas futures prices for March have been dropping this week while many parts of the U.S. were experiencing the lowest temperatures in decades. As of 11:04 a.m. EST on Friday, natural gas prices were down 0.96 percent at $2.787 per million British thermal units (MBtu).

According to Reuters market analyst John Kemp, traders have been less concerned about natural gas stocks during the winter than they were between September and November, when the Henry Hub natural gas prices soared amid fears that stocks were too low going into the heating season.

The polar vortex is expected to be short-lived and so far, this winter has been warmer than average and about the same as last winter.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment
  • Jim Miceli on February 02 2019 said:
    The way I see it , is there is enough room for Oil , Solar , Wind , among these , the ability to serve the consumer with energy efficiency in a given geoloc.. Consider the practical applications verses having to pipe energy. Also , account for Atmospheric Water Generation Equipment. They come in different water capacity. Warren Buffett missed this venture. Consider building a home in the hills where there is electricity but no water. ''''''''''''''''''''''''''''''''''''''''''''''

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News