STATES WEIGH TRUE NATURAL GAS PRICE AMID RUSSIA-FUELED VOLATILITY

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ATLANTE, March 9, 2022 /PRNewswire/ — As Russia intensifies its invasion of Ukraine and the United States imposes sanctions prohibiting the import of Russian oil, liquefied natural gas and coal, America is working to stabilize its own energy markets. Although we produce almost all the natural gas we consume, domestic prices are rising in response to global market volatility and growing international demand for US resources. As Southface, a sustainable building nonprofit sees it, this is another setback for a power source that state utilities have long touted as an affordable and reliable investment.

Although states cannot import natural gas from abroad, most obtain their supply from another state. The U.S. Energy Information Administration reveals that only five states — Texas, Pennsylvania, Louisiana, Oklahomaand West Virginia – accounted for approximately 69% of total dry natural gas production in the United States in 2020. The vast infrastructure required to send gas long distances is vulnerable to disruption from threats such as freezing temperatures, earthquakes , corrosion and damage to excavation equipment. Additionally, as the Global Energy Monitor reports, natural gas production and systems are leaking greenhouse gases that are exacerbating the climate crisis, such as methane, all the time. Despite these liabilities, many electric utilities are reluctant to redirect funds to more reliable renewable energy resources closer to home.

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