Reply To: GAS PRICES

“Brandon strifled the domestic gas production hence less supplies…”
As someone observed, the level of ignorance here is breathtaking…
The mods prefer we don’t post URL links but if you go to the DOE website (EIA.gov) and luse the dropdown menu to link to “U.S. Natural Gas production”) you will note that the monthly natural gas production when Trump left in January 2021 was 2.876 MCF…..the most recent monthly production for April 2022 was 3.187 MCF.
Conventional wisdom suggests that 3.187 is a larger volume than 2.876. The figures for May and June will be even larger since producers ramped up marginal production capacity when Russia invaded Ukraine in March 2022. As world prices spiked over the past 90 days, foreign demand made it substantially more profitable to convert U.S. production to LNG exports to Europe where it was priced at $30/MMBTU (including conversion and transport costs) compared to domestic commodity prices (Henry Hub of about $9/MMBTU).