Natural Gas News – January 25, 2018

Natural Gas News – January 25, 2018

More Electric Cars Mean More Coal And Natural Gas

Forbes reported: Electric cars are a rapidly growing market. In 2017, sales in the U.S. were up nearly 30%, to about 200,000 units. This surge is even more impressive given that the very low gasoline prices we have seen obviously incentivize sticking with the traditional oil-based, internal combustion engine purchase. But, there’s much more to the electric car story than what you might be hearing. The anti-fossil fuel business tends to forget and/or ignore the fact that electric cars are, obviously, just that…powered by electricity, a secondary energy source that is mostly generated by the combustion of coal and natural gas both here in the U.S. and around the world (see Figure). Overall, more electric cars are just a part of the massive increase in global electricity consumption that will continue on for as far as our current models predict, favoring the most vital sources of electricity: coal and natural gas. For more on this story visit forbes.com or click http://bit.ly/2E9mus3

Natural Gas Extends Surge on Cold Snap

Market Watch reported: Colder-than-usual January temperatures—and forecasts for another chill—have natural-gas prices running hot, with futures adding Wednesday to a sharp rally. February natural-gas futures NGG18, +0.66% on the New York Mercantile Exchange were up 11.1 cents, or 3.2%, to $3.555 per million British thermal units after trading as high as $3.62, the strongest for a most active contract in more than a year, according to FactSet. A combination of “short covering, risks of cold weather and elevated seasonal demands during the remaining months of the winter heating season, a tightened storage outlook, and record exports propelled the market sharply higher,” wrote analysts at TFS Energy, in a Wednesday note. For more visit marketwatch.com or click http://on.mktw.net/2Gim7MD