The crazy summer weather has revved up and is taking its toll on everyone.
Places hit especially hard are the east coast and eastern Texas, and the latter has a storm coming in from the Gulf of Mexico. In fact, the Houston area has already seen its fair share of floods recently, so a new tropical torrent wouldn’t help the area’s energy production at all.
Meanwhile, the east coast is being cooked alive. High temperatures are upping the energy demand as AC units run full blast and more people spend time inside.
And it only gets better for natural gas now that the coal industry’s days are numbered, especially with more coal-powered plants being retired and natural gas plants are being brought online this year. The Energy Information Administration estimates the Environmental Protection Agency’s Clean Power Plan to shut down 90 gigawatts worth of coal plants by 2040.
All of these things equal one point of good news: natural gas is in high demand and will continue to be through this harsh season. Prices already spiked 5.1% just yesterday on the threat of that tropical storm in Texas.
Get a good seat from your boat or hide out in the shade, and watch natural gas take the energy production stage.
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