"Gas in an area of the vast Permian known as Waha was trading for as little as 20 cents to 70 cents per million British thermal units on Monday, traders said. That compares with the US benchmark futures contract that’s trading around $5 and European prices close to $28.
If West Texas prices tumble into negative territory, energy producers will effectively be paying someone to take gas off their hands -- something that hasn’t happened in two years.
The price collapse illustrates the sharp contrast between bountiful US supplies of the fuel and Europe’s worsening energy crisis as winter approaches. Tight gas markets in Europe and Asia threaten to have knock-on effects for diesel, coal and power as governments and utilities scramble for energy, according to Bloomberg Intelligence."
Rayne said
Oct 24 10:17 PM, 2022
When I was young we had an upstairs bathroom, but outside the backdoor there was a covered in part with a shed, a space for storing coal etc and a toilet, then a door to go through to the garden, which was quite handy really if someone was using the toilet or bath upstairs. Lol
But I do remember ice on the windows. Our heating was either an electric or coal fire in the front room and a coal or maybe Anthracite boiler in the kitchen which my mum kept alight all year round as it also heated the water.
Bedtime was a hot water bottle and plenty of blankets.
Happy days! lol
As for the opening post of am I worried. Personally I'm not losing sleep over the situation right now (although I'm sure there are plenty that are) and do I feel for them. :(
Of course I'm a bit concerned about what will be thrown at us next, I don't pretend it's not going to get worse. But you just have to deal with it as it comes along.
Digger said
Oct 24 10:55 PM, 2022
Syl said
Oct 25 12:54 AM, 2022
The winter of 2009/10 was hard.
We were snowed in for the first time, and we have lived here for 40 years.
Anonymous said
Oct 25 2:44 AM, 2022
Dearest Maddog America are selling that gas to Europe at ten times the price of Russian gas whilst they have the Europeans by the balls. The Europeans have had enough though and are turning against you.
Maddog said
Oct 25 3:27 PM, 2022
A beautifulyounglady wrote:
Dearest Maddog America are selling that gas to Europe at ten times the price of Russian gas whilst they have the Europeans by the balls. The Europeans have had enough though and are turning against you.
What the Europeans should do is become energy independent. Especially the Brits.
Gas can't be moved very well by tankers. You need pipelines.
Ideally, pipelines from wells in your own country.
Maddog said
Oct 25 3:36 PM, 2022
From BPs website.
"bp has a larger economic footprint in the US than we do anywhere else in the world. We employ more than 12,000 people from coast to coast and support about 245,000 American jobs. Between 2005-2021, bp's invested more than $130 billion in the United States. bp’s operations contribute about $60 billion to the US economy annually."
Maybe it's time BP invests more in Britain?
Total, is also a huge player here. Do they have any wells in France, or is that soil a bit too precious to poke holes in?
It's very difficult to feel sorry for a place that is sitting on the very product they need to heat their homes, and insists on buying it from others. 🤷♂️
Unbelievable when you read the previous post with this one.
Anonymous said
Oct 26 9:50 PM, 2022
Politically it makes sense for Sunak to prevent fracking and allow the poorer members of Britain to die, while the middle classes get by and fuss about having to cut back on their overseas holidays and number of crates of champagne to have over the weekend. The big narrative is that fracking is evil on many levels and so if Sunak wants to have an easy ride from the media and the climate change lobbyists it is easy just to ban it. Britain and the EU are also sitting on many hundreds of years of coal but again they can't use it.
Maddog said
Oct 27 1:02 AM, 2022
Anonymous wrote:
Politically it makes sense for Sunak to prevent fracking and allow the poorer members of Britain to die, while the middle classes get by and fuss about having to cut back on their overseas holidays and number of crates of champagne to have over the weekend. The big narrative is that fracking is evil on many levels and so if Sunak wants to have an easy ride from the media and the climate change lobbyists it is easy just to ban it. Britain and the EU are also sitting on many hundreds of years of coal but again they can't use it.
Yup. What is politically popular amongst the population will often win out over what is logical.
Politicans pander, because that's better than leading and explaining what you are doing..
And the anti fracking propaganda has basically won the battle at this point. Same as the the anti nuclear brigade.
Politicans will focus on less effective ideas that are more popular..
It's very difficult to feel sorry for a place that is sitting on the very product they need to heat their homes, and insists on buying it from others. 🤷♂️
Fucking unbelievable. The man's an idiot.
Syl said
Oct 27 12:25 PM, 2022
And yet, only a few short days ago, when Truss was still clinging on...
"Who voted to ban fracking?
No Conservative members voted to ban fracking.
All Labour members who took part in the vote voted to ban fracking, including Labour leader Sir Keir Starmer, Diane Abbott, Yvette Cooper, David Lammy, Sam Tarry, Emily Thornberry, and Jess Phillips.
Who voted against banning fracking?
All Conservative members who took part voted against banning fracking, including Prime Minister Liz Truss, Kemi Badenoch, James Cleverly, Sajid Javid, Penny Mordaunt, Dominic Raab, Jacob Rees-Mogg, Grant Shapps, and Nadhim Zahawi."
It's very difficult to feel sorry for a place that is sitting on the very product they need to heat their homes, and insists on buying it from others. 🤷♂️
Fucking unbelievable. The man's an idiot.
It became political suicide. It was never real popular because of the fear mongering, then it became associated with the previous regime, which was a disaster.
It's easier to close your eyes and pretend that gas comes from the magic gas fairy and is produced by elves and unicorns in a magical kingdom.
Anonymous said
Oct 28 1:20 PM, 2022
Maddog it's finally happening the dollar will be dust shortly.
Get your guns polished up join a survivalist group and get ready for poverty and chaos on a continent wide scale.
This is becoming a very dangerous time because America won't go down quietly.
71 countries de-dollarize! Saudi Arabia sells off 35%! Israel dump 20%! Japan dumping 12%!
Maddog said
Oct 28 5:20 PM, 2022
anonymousrollup wrote:
Maddog it's finally happening the dollar will be dust shortly.
Get your guns polished up join a survivalist group and get ready for poverty and chaos on a continent wide scale.
This is becoming a very dangerous time because America won't go down quietly.
71 countries de-dollarize! Saudi Arabia sells off 35%! Israel dump 20%! Japan dumping 12%!
Oh my. I've heard that before.
Might be the start of another dark ages for the planet..🙄
Anonymous said
Oct 28 9:57 PM, 2022
De-dollarisation is not going to affect the lifestyles and standards of living of most Americans. America is more or less self-sufficient with huge potential untapped resources (e.g. in Alaska). De-dollarisation is just a disengagement of other countries dependence on America through the creation of alternative structures to trade. America has shown time and again the power to steal other nations sovereign wealth by taking their foreign exchange reserves held outside of those nations - when that nation is sanctioned by America and its collective west minions.
Syl said
Nov 3 11:43 PM, 2022
The Bank of England has hiked interest rates by 0.75 percentage points to 3% – the eighth rise since last December and the biggest since 1989.
Not good news for the millions of people with a mortgage.
This on top of huge increases in the general cost of living means more people will be in for a hard winter.
Maddog said
Nov 4 2:10 PM, 2022
Syl wrote:
The Bank of England has hiked interest rates by 0.75 percentage points to 3% – the eighth rise since last December and the biggest since 1989.
Not good news for the millions of people with a mortgage. This on top of huge increases in the general cost of living means more people will be in for a hard winter.
Are all of your mortgages adjustable?
Our central bank did the same thing 2 days ago. Our real estate market is in a free fall. Of course that will eventually help people get into cheaper housing. Doesn't help the people that just purchased though.
Syl said
Nov 4 6:59 PM, 2022
Maddog wrote:
Syl wrote:
The Bank of England has hiked interest rates by 0.75 percentage points to 3% – the eighth rise since last December and the biggest since 1989.
Not good news for the millions of people with a mortgage. This on top of huge increases in the general cost of living means more people will be in for a hard winter.
Are all of your mortgages adjustable?
Our central bank did the same thing 2 days ago. Our real estate market is in a free fall. Of course that will eventually help people get into cheaper housing. Doesn't help the people that just purchased though.
Adjustable, as in lengthening the time you pay back?
I imagine they still are, and I bet a lot of people will be doing that if they can't meet the rise in payments,
If West Texas prices tumble into negative territory, energy producers will effectively be paying someone to take gas off their hands -- something that hasn’t happened in two years.
The price collapse illustrates the sharp contrast between bountiful US supplies of the fuel and Europe’s worsening energy crisis as winter approaches. Tight gas markets in Europe and Asia threaten to have knock-on effects for diesel, coal and power as governments and utilities scramble for energy, according to Bloomberg Intelligence."
When I was young we had an upstairs bathroom, but outside the backdoor there was a covered in part with a shed, a space for storing coal etc and a toilet, then a door to go through to the garden, which was quite handy really if someone was using the toilet or bath upstairs. Lol
But I do remember ice on the windows. Our heating was either an electric or coal fire in the front room and a coal or maybe Anthracite boiler in the kitchen which my mum kept alight all year round as it also heated the water.
Bedtime was a hot water bottle and plenty of blankets.
Happy days! lol
As for the opening post of am I worried. Personally I'm not losing sleep over the situation right now (although I'm sure there are plenty that are) and do I feel for them. :(
Of course I'm a bit concerned about what will be thrown at us next, I don't pretend it's not going to get worse. But you just have to deal with it as it comes along.
We were snowed in for the first time, and we have lived here for 40 years.
What the Europeans should do is become energy independent. Especially the Brits.
Gas can't be moved very well by tankers. You need pipelines.
Ideally, pipelines from wells in your own country.
"bp has a larger economic footprint in the US than we do anywhere else in the world. We employ more than 12,000 people from coast to coast and support about 245,000 American jobs. Between 2005-2021, bp's invested more than $130 billion in the United States. bp’s operations contribute about $60 billion to the US economy annually."
Maybe it's time BP invests more in Britain?
Total, is also a huge player here. Do they have any wells in France, or is that soil a bit too precious to poke holes in?
It just got harder.
It's very difficult to feel sorry for a place that is sitting on the very product they need to heat their homes, and insists on buying it from others. 🤷♂️
Unbelievable when you read the previous post with this one.
Politically it makes sense for Sunak to prevent fracking and allow the poorer members of Britain to die, while the middle classes get by and fuss about having to cut back on their overseas holidays and number of crates of champagne to have over the weekend. The big narrative is that fracking is evil on many levels and so if Sunak wants to have an easy ride from the media and the climate change lobbyists it is easy just to ban it. Britain and the EU are also sitting on many hundreds of years of coal but again they can't use it.
Yup. What is politically popular amongst the population will often win out over what is logical.
Politicans pander, because that's better than leading and explaining what you are doing..
And the anti fracking propaganda has basically won the battle at this point. Same as the the anti nuclear brigade.
Politicans will focus on less effective ideas that are more popular..
Fucking unbelievable. The man's an idiot.
And yet, only a few short days ago, when Truss was still clinging on...
"Who voted to ban fracking?
No Conservative members voted to ban fracking.
All Labour members who took part in the vote voted to ban fracking, including Labour leader Sir Keir Starmer, Diane Abbott, Yvette Cooper, David Lammy, Sam Tarry, Emily Thornberry, and Jess Phillips.
Who voted against banning fracking?
All Conservative members who took part voted against banning fracking, including Prime Minister Liz Truss, Kemi Badenoch, James Cleverly, Sajid Javid, Penny Mordaunt, Dominic Raab, Jacob Rees-Mogg, Grant Shapps, and Nadhim Zahawi."
Fracking vote: Who voted for and against the ban and what was the result? (yahoo.com)
-- Edited by Syl on Thursday 27th of October 2022 12:28:02 PM
It became political suicide. It was never real popular because of the fear mongering, then it became associated with the previous regime, which was a disaster.
It's easier to close your eyes and pretend that gas comes from the magic gas fairy and is produced by elves and unicorns in a magical kingdom.
Maddog it's finally happening the dollar will be dust shortly.
Get your guns polished up join a survivalist group and get ready for poverty and chaos on a continent wide scale.
This is becoming a very dangerous time because America won't go down quietly.
71 countries de-dollarize! Saudi Arabia sells off 35%! Israel dump 20%! Japan dumping 12%!
Oh my. I've heard that before.
Might be the start of another dark ages for the planet..🙄
De-dollarisation is not going to affect the lifestyles and standards of living of most Americans. America is more or less self-sufficient with huge potential untapped resources (e.g. in Alaska). De-dollarisation is just a disengagement of other countries dependence on America through the creation of alternative structures to trade. America has shown time and again the power to steal other nations sovereign wealth by taking their foreign exchange reserves held outside of those nations - when that nation is sanctioned by America and its collective west minions.
Not good news for the millions of people with a mortgage.
This on top of huge increases in the general cost of living means more people will be in for a hard winter.
Are all of your mortgages adjustable?
Our central bank did the same thing 2 days ago. Our real estate market is in a free fall. Of course that will eventually help people get into cheaper housing. Doesn't help the people that just purchased though.
Adjustable, as in lengthening the time you pay back?
I imagine they still are, and I bet a lot of people will be doing that if they can't meet the rise in payments,