Is Natural Gas so great now that the prices of TRIPLED?

[bradfordwhite]

There really is more to consider in your choice of primary heat source than JUST the month to month bill cost per therm.

https://wolfstreet.com/2022/06/07/w...damn-high-the-booming-us-lng-export-industry/

 

[wayupnorth]

Electricity bills have risen dramatically also as so many power plants run on natural gas.

 

[robbinsandmyers]

Here in the Northeast most homes used to heat by oil and that has gradually changed the last 30 years with lots of people switching to natural gas when they replace their furnace/boiler. So demand is much higher here now. Home heating oil prices here at times are just too unstable as we are seeing right now and gas has always been the cheaper alternative esp now with super efficient burners. My furnace, stove, and hot water heater all run on natural gas and I prefer it. Electric is out for me as the local power company has a history of gouging the past 10 years. One increase raised residential rates 50% and commercial 75% and they got away with it.

 

[bradfordwhite]

Electric rates may have risen a bit, like many things in the last year or so, and may rise a bit more but certainly not as much as NG.

People have more control with electricity though. You can make your own with your own affordable solar array and/or wind energy.

For all the (weird) talk in the U.S. about people wanting "independence", it's illogical for a household to then choose to be tied to a gas provider and using expensive to replace, noisy, inefficient appliances to burn that petroleum product.

 

[wayupnorth]

January 1, Central Maine Power increased rates 81% and Versant Power went up 88%. Both blame it on natural gas prices. Residents blame greedy stockholders of the states 2 electric companies. Solar will not work for me as there is woods around me on 3 sides with the lake on the other so I dont get anywhere near the sun I need to do solar.

 

[maytag85]

It’s 1973 all over again since gasoline prices have risen dramatically along with utility rates. If things continue going on at the rate they are, we will see stagflation for sure.

 

[bradfordwhite]

Stagflation for sure.
Over confidence (and over-financing) of one group and declining fundamentals of reality.

 

[robbinsandmyers]

Sis just had her 275 gallon tank filled last week at $5.07 a gallon. It was $1394.25. SCREW THAT. Her boiler runs all year because it heats their hot water year round. My gas bill in Winter is $140.00 a month with forced hot air and around $45-$50 when the furnace isnt running. It would cost me much more on oil or electric. And when it comes to electric motors, solar wattage doesnt go a long way because you need 2-3 times the rated wattage just for start up. So if you need to run heat, plus a circulator motor, and the fridge and washer are running at the same time plus maybe the dryer you would have to cover your entire roof with solar panels and rent space on your neighbors as well.

 

[askolover]

NG still the cheaper option in my area.  But my house was originally built to be all electric so I can use either one...which ever one is cheapest.  20 years ago NG went through the roof...people were getting $300-400 bills, I used my 240V heater to offset until things leveled off again.   I also have the budget billing plan where they average the bill based on last year's usage divided by 12 months...even in the coldest of winter I paid only $63 at the most.  And that's for hot water, dryer, stove, grill (used year around), and furnace.

 

[goatfarmer]

....and aaaawwwwaaaayyy we go......

 

[robbinsandmyers]

Reply #8

What did they attribute that insane increase too? Thats a huge amount of money for NG back then. Here in over priced CT it was very cheap at that time.

 

[bradfordwhite]

Mr. Goat farmer

All I can say to you is: Fiddybucks.

 

[askolover]

Reply 10

I don't remember what the reasoning was.  I just remember people on the news talking about how much it had gone up, coworkers too.  I didn't let it get me.

 

[tomturbomatic]

I heard on the news this AM that the President was going to talk to our petroleum people to see if they can't restart some of the refineries that were shut down when demand dropped during the COVID crisis. Do not hold your breath.

 

[bradfordwhite]

The old refinery plant excuse!

  

How many times have we heard them float that as a reason for a sudden price increase? 

 

And how many people have the knee jerk reaction to go out and buy gas when they hear it?

 

We're one of the richest countries on the planet and they couldn't build a few stinkin' refineries or two? 

 

Tesla is building huge factories around the globe in a matter of months time, Amazon puts up their huge warehouses in a matter of months, and over cash rich oil industry can't do a refinery.  No way.  Not buying their b.s.

 

 

 

[tomturbomatic]

I wrote that they took refineries off line due to decreased demand for product during the pandemic, not that the refineries were dematerialized. They just need to be restarted, according to the news report.