Europe's energy crisis solution
Started by metmike - Sept. 17, 2022, 6:44 p.m.
By now, everybody knows that natural gas and electricity market prices are up 10-fold in the last year in Europe.
Most explanations for who/what is to blame are extremely misleading to complete lies. For instance:
1. It's evil Putin's fault.
2. It's the reliance on dirty, planet killing fossil fuels fault.
3. It's because they didn't switch completely to the panacea green energy that creates a utopian world of unlimited jobs and cheap energy, while cleaning up the environment and saving the planet.
That's all really wrong.
Previous discussion(on Europe):
The picture/graph in this post is worth a thousand words but please do read the explanation:
VERY IMPORTANT NOTE:
The United States is now gushing out natural gas production/supply at record levels, with the industry responding recently to very low supplies/storage. The number of 100+ BCF injections was mind boggling. Note the last paragraph at the bottom and the graph below.
We are in good shape here.........for now.
Another HUGE injection compared to expectations!
Latest Release Nov 03, 2022 Actual107B Forecast97B Previous52B
|Nov 10, 2022||11:30||52B|
|Nov 03, 2022||10:30||107B||97B||52B|
|Oct 27, 2022||10:30||52B||59B||111B|
|Oct 20, 2022||10:30||111B||105B||125B|
|Oct 13, 2022||10:30||125B||123B||129B|
|Oct 06, 2022||10:30||129B||113B||103B|
|Sep 29, 2022||10:30||103B||94B||103B|
|Sep 22, 2022||10:30||103B||93B||77B|
|Sep 15, 2022||10:30||77B||73B||54B|
|Sep 08, 2022||10:30||54B||54B||61B|
|Sep 01, 2022||10:30||61B||58B||60B|
|Aug 25, 2022||10:30|
for week ending October 28, 2022 | Released: November 3, 2022 at 10:30 a.m. | Next Release: November 10, 2022
|Working gas in underground storage, Lower 48 states Summary textCSVJSN|
billion cubic feet (Bcf)
|Region||10/28/22||10/21/22||net change||implied flow||Bcf||% change||Bcf||% change|
Totals may not equal sum of components because of independent rounding.
Working gas in storage was 3,501 Bcf as of Friday, October 28, 2022, according to EIA estimates. This represents a net increase of 107 Bcf from the previous week. Stocks were 101 Bcf less than last year at this time and 135 Bcf below the five-year average of 3,636 Bcf. At 3,501 Bcf, total working gas is within the five-year historical range.
For information on sampling error in this report, see Estimated Measures of Sampling Variability table below.
metmike: Look at the blue line above rapidly gaining on the 5 year average. The angle of the upsloping blue line is MUCH steeper than any other year with us now having 6 of the last 7 reports featuring 100+ BCF injections. I don't need to check the records(Larry can) to know that has NEVER happened before.