Full article here.
Natural gas futures rose to the highest price in more than five months after a government report showed that U.S. inventories fell more than forecast last week as cold weather boosted demand for the heating fuel.
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Natural gas for February delivery advanced 13.4 cents to $4.695 per million British thermal on the New York Mercantile Exchange, the highest settlement price since Aug. 4.
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Last week’s storage drop was bigger than the five-year average decline of 133 billion cubic feet, department data showed. A surplus to the five-year average fell to 1.9 percent from 5.8 percent the previous week. A surplus to year-earlier supplies widened to 2.8 percent from 2.4 percent.
Gas inventories may fall to 1.7 trillion cubic feet by the end of the winter heating season, down from the previous estimate of 2 trillion, Barclays Capital said in the report yesterday.
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“With more cold weather still in the forecast for the eastern U.S., we continue to see potential for nearby natural gas futures to run to $5,” said Tim Evans, an energy analyst at Citi Futures Perspective in New York.
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PG, heavy duty trucks cannot utilize CNG for long haul service. They would need access to LNG instead.
By the way, it will probably also take some government subsidies to help foot the cost of replacing all those diesel trucks.
heavy duty trucks cannot utilize CNG for long haul service. They would need access to LNG instead.
Not so.
Essay, thanks - I was in a hurry and couldn't provide a longer response.
LNG has ~ three times the energy density of CNG and diesel has an energy density 63% higher than LNG. It is hard enough to get big trucks to consider LNG and there is no way they would go for CNG. Even trash trucks want LNG because they can run all day on one fill-up. With CNG they would have to return to base in the middle of the day for a refill.
Shale drilling and lithium extraction are seemingly distinct activities, but there is a growing connection between the two as the world moves towards cleaner energy solutions. While shale drilling primarily targets…
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