worldwide glut of natural gas

[wvit1001]

Another nail in coal's coffin -



Malaysia’s Petroliam Nasional Bhd abandoned on Tuesday its plans for the Pacific Northwest LNG terminal, a plant that would’ve liquefied Canada’s gas and sent the fuel by tanker from the western shores of British Columbia to markets in Asia. Petronas cited market conditions in its decision.

Pacific Northwest LNG now joins a growing list of projects that have been killed in recent months by plummeting LNG prices throwing the economics of export terminals from Australia to Russia to Mozambique into question. Prices have crashed as increasing volumes of gas from Australia and America’s shale formations hit the water, inundating the market with so much supply that analysts say demand may not catch up until the next decade.

“Developers have been trying to jump on a rather full and over-hyped bandwagon,” Muhammed Ghulam, an equity research associate at Raymond James in Houston, said by email. “There is simply too much LNG export capacity planned in North America, and cancellations, especially of Canadian projects, are likely to continue.”

For an outlook on global LNG supply and demand, read this Bloomberg New Energy Finance report.


http://www.msn.com/en-us/money/markets/a-worldwide-gas-glut-claims-latest-dollar27-billion-victim-in-canada/ar-AAoPTtG?li=BBnb7Kz

[emilyB]

Our N.W.Natural gas bills are so low they actually gave us a rebate last month.  Different story with Pacific Power electric bill.  It is the highest ever.  Hottest summer with no rain and air conditioning running 24/7.

[wvit1001]

America's natural gas industry is doing great.  Plenty of jobs and still hiring more.   The coal industry is dying.

[bhsgrad1972]

Funny thing about coal:  Miners in WEST VIRGINIA are GOING BACK TO WORK.

Coal does have other uses than just burning it for power generation.  Ever hear of COKE, used in the process of making STEEL?  COKE comes from COAL.  Without MINERS, there is no COAL to make into COKE, without which the blast furnaces used to make STEEL would be sitting IDLE, and without STEEL, many industries would simply grind to a halt.

[WWV10MHZ]

The Coal Industry is not dying. New uses are being found for it and it has become a major export.

[fun n games]

.
Go ahead and kid yourself.  If you want to try and revive a dying animal.






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[Jim]

 
We are told that Natural Gas is a virtual Endless Supply. 
Like drinking Ocean water (if it were drinkable), how would that be considered "Glut?"
 

[captain_kook]

Funny thing about coal:  Miners in WEST VIRGINIA are GOING BACK TO WORK.

Yep - a few.

A few hundred temporary jobs - where thousands used to work their entire lives.

[captain_kook]

"We are told that Natural Gas is a virtual Endless Supply."

Not by anyone who knows what they're talking about.

Imaginary people are probably saying this I'm sure.

[chuck_curtis]

Coal production is up sharply this year.  Somebody needs it.

[Jw2]