US natural gas prices rose above $10 per million British thermal units for the first time since 2008 as America exports more liquefied natural gas to hungry markets in Europe and Asia.
Some 20 million households across the US — about one in six American homes — have fallen behind on their utility bills. It is, according to the National Energy Assistance Directors Association, the worst crisis the group has ever documented. Underpinning those numbers is a blistering surge in electricity prices, propelled by the soaring cost of natural gas.
Natural gas hit $10/therm at the Henry Hub - first time since 2008.
Electricity prices from NG up 43% this year.
If you think it’s bad here, in EU, NG and electricity fuel prices are equivalent to $1000/bbl of oil.
It’s going to be a long hard winter in Germany, England…and much of EU. Not much better in Russia with the economy slated to nose dive 20% or more.