Natural Gas Prices Set to Jump 52%, EIA Says

Natural Gas Prices Set to Jump 52%, EIA Says

www.americandrycleaner.com

WASHINGTON, D.C. — The government released a short-term energy outlook last week, revising projections for natural-gas prices upward. According to a report from the Energy Information Administration (EIA), natural gas will cost a whopping 52% more this year than last year.

Two months ago, the same forecast projected a 16.5% hike in the price of natural gas from last year, and last month, the projection was a 35% increase. Natural gas spot prices averaged $7.17 per thousand cubic feet (Mcf) in 2007 and are now expected to average more than $11 per Mcf in 2008 and 2009.

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This is really troubling news to me, I can barely afford my utilities as it is. As if things were not already bad enough on the energy front, this is going to push a lot of people that are barely hanging on right over the edge. There is no end in sight either, with the financial markets nearing collapse, a mere increase of 52% may seem like nothing in comparison of what is coming over the following year.

If you can afford to go solar or better yet, a heat pump, now would be a great time to get on it...

www.americandrycleaner.com
(visit the link for the full news article)

Will this be a new 'bubble' into which they will hoover up the wealth of the American people?

Will there be new 'mathemagical' reasons that the price must rise? Did everyone in the country suddenly switch to natural gas - thus sending up demand by 50%?

This is great news for the industry. Sorry about how many Americans are going to need subsistence support this winter when they can't afford to heat their homes. But of course, the tax-payers will bear that burden, no?

EDIT to ADD

Of course, one must remember that the reporting governmental agency is answerable to the Executive branch of the administration and is riddled with appointees from the industry itself.

[edit on 25-6-2008 by Maxmars]

[edit on 25-6-2008 by Maxmars]

It is nice to know that our stimulus checks can't even cover the gas we need to put in our tanks for the remainder of the year, much less the gas to heat our homes this winter.

Looks like it is time to get some more blankets. Portable heaters might be an option, but basic electricity is supposed to increase by something like 30% isn't it?

The only thing left to jack the price up on is water. Then they will pretty much have every necessity covered. I believe Washington State is already working on that by regulating rain water and deeming it property of the state. Let's hope that little trend doesn't catch on.

Originally posted by KarlhungisI believe Washington State is already working on that by regulating rain water and deeming it property of the state. Let's hope that little trend doesn't catch on.

Are you kidding me? I'll have to look into that one for sure. What's next, they claim the air we breath? Thanks for bringing that one up KH.

They want us down on our knees begging for help is what they want.
Once the noose is tight enough, we will follow like mindless sheep and do their bidding.
I think thats the reasoning behind most of this stuff.

Great thread SystemiK. Couple this with the thread I posted on The Electric Corps upping rates by 30% and I think we see a pattern of continual pillaging and plundering of the little people taking place, on all levels of these endlessly greedy Energy corps...

Originally posted by SystemiK

Originally posted by KarlhungisI believe Washington State is already working on that by regulating rain water and deeming it property of the state. Let's hope that little trend doesn't catch on.

Are you kidding me? I'll have to look into that one for sure. What's next, they claim the air we breath? Thanks for bringing that one up KH.

It isn't exactly as sinister or dire as Karlhungis is suggesting.
www.ecy.wa.gov...
It seems that they're just trying to determine a medium between existing water rights holders East of the Cascades who depend heavily on rain water runoff to fill the streams and aquifers they use for irrigation, livestock, and personal and commercial use and new permits for rainwater collection. Washington state is actually pretty good about land owner rights, with the exception of very high property taxes... but then again, there is no state or local income tax in the state so the property taxes are one of their ways of keeping the state running. I really don't think this pertains to single family homes desiring a rainwater collection system to augment or even supply their drinking water, but it is designed to make sure they don't suddenly have somebody building a several acre pond or retention system that collects all runoff from above the property and restricts any of it from reaching those downstream in the basin.