Natural Gas News – January 23, 2020
Natural Gas Price Fundamental Daily Forecast – EIA Withdrawal Expected to Come in Well-Below 5-Year Average
Yahoo Finance: Natural gas futures are edging higher on Thursday, shortly before the regular session opening and the release of the government’s weekly storage report. Since gapping sharply lower at the start of the week, prices have consolidated for two sessions. The consolidation could be traders being influenced by oversold technical indicators, a developing shift in the weather forecasts, or position-squaring ahead of the government report. We’re not talking about a coincidental smoothed mathematical oscillator, we’re talking about real raw data. Natural Gas Intelligence (NGI) reports, “As a group, speculators are about as net short on natural gas as they’ve ever been,” according to INTL FCStone Financial Inc. Senior Vice President Tom Saal. “The way I calculate it, it’s the largest net short since 2006,” Saal told NGI, noting that 2006 is as far back as his dataset goes. For more on this story visit finance.yahoo.com or click https://yhoo.it/2NUk3zD
Exporting natural gas creates carbon footprint rivaling that of coal, data shows
Houston Chronicle reports: In May, while President Donald Trump toured a new $10 billion plant designed to prepare natural gas for export, he made a vow. Such facilities would be good for the environment, he said, or they won’t get approved. The president has greenlit 11 projects so far, bringing the U.S. total to 18. Environmentalists once touted the fuel, nicknamed “freedom gas” by the Trump administration, as a better energy alternative, but an analysis shows the plants’ potential carbon dioxide emissions rival those of coal. Not all the export terminals are completed and in use, but if they were, simply operating them could spew 78 million tons of CO₂ into the air every year, according to data compiled by Bloomberg from environmental filings. That’s comparable to the emissions of 24 coal plants(3), or 18
gigawatts of coal-fired power—more than Kentucky’s entire coal fleet. For more on this story visit houstonchronicle.com or click https://bit.ly/2uqaGAT
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