It will take more than an extra sweater to stay warm this winter; anyone heating with natural gas will require extra money to burn the furnace. Natural gas is sharply higher than it was last year. This week, natural gas was $8.20 an mcf—the volume of 1,000 cubic feet. This is the price paid to gas producers, set by Henry Hub. It is the highest price in 14 years.
A year ago, in August 2021, natural gas was half the cost at just $4.07 an mcf, and in 2019, when Donald Trump was president, natural gas was $2.22 per mcf.
“Because of what’s going on globally, and because of the policies in certain areas, [producers] are not able to produce as much [gas] and it drives the price up,” Dan Weaver, president and executive director at Pennsylvania Independent Oil and Gas Association, told The Epoch Times….