US Natural Gas Crisis
Similar problems in the UK are happening in the US. Natural Gas has hit $14 per million BTUs (10 Therms). One problem with the use of natural resources is that it appears that governments really think that the speedo is the fuel gauge.
In the case of Natural Gas there always was a question as to when the gas market for LNG (Liquid Natural Gas) went global. Well it appears that this is about now.
One problem for the UK is that during the period of the country being an energy exporter we have also exported jobs - and particularly jobs which could obtain export earnings. This means we are now in a position whereby one of more main growing USPs is now inefficient government which is difficult to obtain export earnings from.
The energy prices will lead to a reduction in exports and increase in imports as well.
In the case of Natural Gas there always was a question as to when the gas market for LNG (Liquid Natural Gas) went global. Well it appears that this is about now.
One problem for the UK is that during the period of the country being an energy exporter we have also exported jobs - and particularly jobs which could obtain export earnings. This means we are now in a position whereby one of more main growing USPs is now inefficient government which is difficult to obtain export earnings from.
The energy prices will lead to a reduction in exports and increase in imports as well.
posted by John Hemming at 3:55 AM
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