Aaron747 wrote:MohawkWeekend wrote:One month ago I posted these prices with today's US price listed to the right. By late next week, a major cold front is due to roll down from Canada. New England and NY are going to wish they allowed that gas pipeline.
In USD -
WTI CRUDE • 75.45 (81.01)
BRENT CRUDE 79.56 (82.18)
NATURAL GAS 5.427 (5.641)
HEATING OIL 2.306 (2.43)
The pipeline would have zero impact on today's prices because it would only deliver crude oil. US refineries that weren't shut down during COVID cannot ramp up back to capacity because of severe understaffing. How long do you think it takes to replace 107,000 job losses?
https://www.houstonchronicle.com/busine ... 633468.php
The pipeline that was stopped was a gas line from the production in WVA, OH and Western Pa. Andrew Cuomo made it a center piece of his environmental policy. So guess what ? The gas went to Ontario instead. And New England gets to use more fuel oil and import liquified natural gas from Russia. Which sells for $15 per MMbtu.
"New England Doesn’t Need, or Want, New Gas Pipelines
Don't let Big Gas scare you. New England doesn't need new gas infrastructure.
JAN 31, 2020 BETHANY KWOKA. clf.org