Simon Casey of Bloomberg posted a story and chart yesterday, ‘Widowmaker’ Natural Gas Spread Doubles as Traders Eye Winter – “Natural gas traders see tight winter supplies. Widowmaker spread hits record high.”
“The spread between March and April futures — essentially a bet on how tight supplies of the fuel will be at end of North American winter — jumped to a new high, rising 18% at 2:57 p.m. in New York. In other words, buying drove March futures way above gas for delivery the following month.”Simon Casey, Bloomberg
Meantime, PJM Interconnect shows that natural gas most recently provided over 44% of our region’s electricity Generation Fuel Mix (Renewables only makeup a little over 5% of that mix).
Since natural gas is a commodity with a fluctuating price, as well as being a finite resource, we should be investing more into renewable energy, since it provides much cleaner energy with far more stable pricing.
Hydraulic fracturing, to obtain tightly-held Marcellus Shale gas, continues to pollute our air, as well as our land and water with radioactive radium waste that will have a sixteen hundred year environmental legacy. Watching THE RADIUM GIRLS movie on Netflix this week, was yet another reminder of what exposure to radium can mean to one’s health.
We really need to get our priorities straight!