U.S. Oil, Natural Gas Prices Racing In Opposite Directions
What this really does is improving the odds for methane to become an even more widespread fuel for transportation than now. Oil price risk up, gas price risk down, makes things just more attractive for transport companies to switch sides. And this is really the best thing the US could do. Just imagine, all the LNG that the US produces and is going to produce wold go into fueling the US transport sector. Transport in the US would get cheaper, the air would be cleaner, low price gas would make the US economy more competitive and higher price but dirtier oil would be exported for top dollar further putting oomph into the US economy. Those are just a few factors why I believe that we are at the cusp of a new American age.
With prompt month settling below $2.50 per MMBtu yesterday, U.S. natural gas prices have tanked to their lowest levels since June 2016.
