What is behind rocketing natural-gas prices?

prices have soared in recent weeks, climbing to a high of $25 per million British thermal units . A number of factors, from Russian supply bottlenecks to a lack of wind in the North Sea, caused the spike. As winter approaches the countries most dependent on gas—for heating homes and generating electricity—could be feeling the chill.A daily email with the best of our journalismEven before the recent price surge, gas was in short supply.

. Rising demand for liquefied natural gas in Asia, as economies there have recovered from the covid-19 slowdown, has driven up prices. Meanwhile wind turbines, which generate about 10% of Europe’s power, slowed during an unusually still summer. Normally European power companies would switch to coal when the prices of gas and alternative energy sources rise. But dwindling supply from European mines and high demand from China have pushed up the price of the black stuff, too. So has the rising cost of European carbon permits, which carbon producers must buy to offset their emissions. From around €30 per tonne at the start of the year, they climbed to a record €63 in early September .

Countries heavily reliant on natural gas and wind have been hardest hit. Britain, which derives about 40% of its energy from natural gas and 20% from wind turbines , has suffered most. The wholesale price paid by suppliers has spiked 250% this year; that, coupled with a regulatory cap on retail prices, has driven several smaller ones out of business. The government is considering emergency loans to prop up ailing survivors. Heavy industry is already reeling from price increases.

The ban on fracking in the USA 100% is the cause

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The ending of natural gas stocks.

horrible

It s not rocket science

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