It’s been a tough year for natural gas producers around the world.
In February, prices plunged and global markets plunged.
Now the oil market is showing signs of a bounceback, as well.
But what’s driving the boom in natural gas is not so much the price of crude oil, as much as the prospect of cheap energy from renewable sources.
And that’s what we’re going to look at in this article.
In the U.S., natural gas prices were at a peak in March, when the federal government pumped nearly $US300 billion ($325 billion) into the industry.
But it’s been falling steadily since.
As we mentioned in our last Energy Outlook, the market is in a period of uncertainty, as oil prices are on a steep downward trend.
Natural gas futures for the year are expected to fall to about $US25 per thousand cubic feet (MCF), down from a peak of $US34.50 last summer.
In a way, this is a good thing for the natural gas industry.
While oil and gas prices have soared, the natural-gas industry has been able to keep its price in check.
So far, natural gas production has been buoyed by low-cost shale oil and natural gas liquids (NGL) production, both of which have seen huge gains in the past year.
But now that the price has plunged, the price is plummeting again.
For many, the outlook for natural-solar energy is much more optimistic.
As energy analysts have pointed out, it will take a lot more time to build the solar power grid, than it will for oil, coal, or natural gas.
But if we can do it, solar is the way to go.
Natural-sensors like those in solar panels and panels on roofs could help us move towards energy independence and reduce our carbon emissions.
But for now, we’ll have to wait and see.
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