Oil and gas price divide raises threat levels, part 1
The next energy crisis could come from the severing of the link between oil and gas prices, with potentially severe economic consequences
For decades, energy market followers have written about the parity of natural gas and oil prices. Natural-gas-exporting nations have tied or tried to tie long-term gas prices to oil prices. Previously, buyers resisted these pressures as natural gas prices collapsed while world oil prices surged. More recently, though, many contracts have been linked to the gas price at the Henry Hub—the primary US pricing location. This market transformation may have unforeseen economic consequences for world consumers and be an inflationary curse for President Trump as global and domestic demand for US supplies exceeds production capacity. Large price ‘spikes’ and shortages could be coming. In a surprising
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