This policy has be overturned by a demand for lower CO2 at power plants, so homes now must pay
much higher gas prices which are forced even higher by speculation being allowed in the gas and oil markets where supply is controlled by government policies not demand.
Of course, Europe has
much higher gas prices than we do, increasing the desire to go with a greener car.
Not exact matches
While lower crude
prices mean cheaper gasoline in the U.S., which should spur demand, that's not so
much the case in other countries, where taxes represent a
higher portion of the cost of
gas (as in Europe).
The extraordinary cost reductions achieved by North American oil and
gas companies have likely reached their limit, and any boost in profitability for
much of the U.S. shale and Canadian oil sands industries will have to come from
higher oil
prices, according to a new report from Moody's Investors Service.
Likewise, the disinflationary tailwind of lower oil and
gas prices should provide a
much greater disposable income boost to lower income households than
higher income groups, as the former generally spend a larger share of income on energy.
In 2018, the average
price of
gas is
much higher, but Oklahoma still ranks as one of the states with the lowest
gas prices in the nation.
Both Canada and Norway have benefited from
higher world energy
prices, but the oil and
gas sector accounts for a
much larger proportion of the economy in Norway.
A winter weather blast across
much of the U.S. this week has sent the
price of natural
gas spiking
higher, weeks before the official start of winter.
If
gas was paying a carbon tax, the current
price will be
much higher.»
Yet the practice is widespread, in part because oil
prices have been
much higher in recent years and because it is hard to find new multimillion barrel reservoirs these days, especially in the picked over U.S. Denbury, based in Plano, Texas, controls more than 1,000 miles of CO2 pipelines and has published reserves of 17 trillion cubic feet of the greenhouse
gas, used to pump more than 70,000 barrels of oil a day.
Gas prices are at record
highs, and U.S. consumers can take only so
much.
Although that's good news to consumers, the fact is that U.S.
gas prices are still
much higher than just a year ago.
As far as
gas prices go, they «eventually» have to be
much higher because shale plays are not economic at this
price.
That means something
much more substantial than $ 4 a gallon for gasoline (American readers of this column should realize that their «
high»
gas prices are amongst the lowest in the industrial world — we Canadians» too).
(There's no infrastructure for storing or transporting the
gas and the oil is the quarry, given its
much higher price.)
Re # 27: TCO, I happen to agree with
much of what you said about
high gas prices.
Recent reports indicate that there is
much more
gas and oil around the UK (more than we have used already) now that
higher oil
prices make recovery of it more economic We are also getting better day by day at producing energy from other sources and reducing the energy we need for specific functions.
Higher temperatures across
much of the US has spurred more electric power demand, which in turn has given a bump to natural
gas prices and producers.
I gather from your remark of the current cheapness of fossil methane that you're looking at the US
prices; here in Europe they're
much higher, and the recent intervention in Ukraine's politics has people very concerned over Russian
gas supplies reaching us next winter.
You can replace with combined cycle
gas, but that does not cut emissions as
much as nuclear and the risk of
gas price increases cause a
high risk of increases in cost of electricity in the future.
But my draw is that shale
gas will require
much higher prices in the future to be producible.
In particular, depending mainly on (i) exactly how
much abatement might be required over 2019 - 23, (ii) the amount and availability of combined - cycle
gas - turbine (CCGT) generation capacity with the required efficiency levels, and (iii) the evolution of commodity
prices between now and 2021, the carbon
price required to plug the supply gap could be lower or
higher than the levels we have imputed from our modelling of the supply - demand dynamics in the EU - ETS over 2019 - 23, and the fuel - switching
price levels implied by current forward curves.
The oil industry didn't make
much noise about the Sierra Club campaign — after all natural
gas prices were low and oil
prices were
high.
«That's an extremely
high and dangerous level of dependence on any fuel,
much less one that, when you look at 40 years of natural
gas prices, is famous for having
price spikes that can cause significant problems to the economy and significant energy shortages,» Shellenberger said.
Since May 2012, a combination of
higher prices for natural
gas and increased demand for electricity during the summer months led electric systems across
much of the country to increase their use of coal - fired units.
«While some of the billions of cubic feet of natural
gas planned for export from the United States will certainly be used in generating electricity in CFE's Mexico facilities,
much of that natural
gas appears to be subject to temporary storage, and redirection into Pemex liquefaction LNG facilities for export to
higher -
priced markets in Asia / Oceania,» the document continues.
Perhaps we spent too
much time watching Monty Python movies and singing «Always look on the bright side of life,» but we thought that there was perhaps a good side to
high gas prices, that people would change their habits to adapt, and suddenly the world would be filled with small efficient cars, lots of mass transit, all food would be locally grown and every new home would be New Urbanist or multifamily, mainly in reborn Buffaloes or Detroits with a bicycle in every garage and an organic chicken in every pot.
Similarly, the National Association of Manufacturers estimated that
high recovery of shale
gas and lower natural
gas prices will help U.S. manufacturers employ 1,000,000 workers by 2025 while lower feedstock and energy costs could help them reduce natural
gas expenditures by as
much as 11.6 billion by 2025.
Perhaps we spent too
much time watching Monty Python movies and singing «Always look on the bright side of life,» but we thought that there was perhaps a good side to
high gas prices, that people would
The combination of
high prices of natural
gas, which is used to make nitrogen fertilizer, and of phosphate, as reserves are depleted, suggests a
much greater future emphasis on nutrient recycling — an area where small farmers producing for local markets have a distinct advantage over massive feeding operations.
Until the recent spike in
gas prices,
much of the discussion about solving our transportation problems — namely, emissions from cars and dependence on foreign oil — centered on increasing the efficiency of the vehicles we drive through
higher CAFE standards and new designs.
Almost every idea that might bring us a better future would be made
much easier if the cost of fossil fuel was
higher — if there was some kind of a tax on carbon emissions that made the
price of coal and oil and
gas reflect its true environmental cost.»
If that is someone's goal, then the
higher gas prices are, the more everyone knows just how
much you are able and willing to throw at such absurdities.
From
high toll
prices to
high gas prices, drivers everywhere feel like they are spending too
much money and are looking for ways to save a buck.