US Gas Power Will Break Records Again This Summer

US Gas Power Will Break Records Again This Summer
(AP Photo/Richard Drew)

In 2019, U.S. natural gas easily led commodities with prices dropping by nearly 30% (e.g., Zinc was second, down 5%). Importantly, this drastic fall in the cost of gas came even with unprecedented use. At 86 Bcf/d, “U.S. natural gas consumption sets new record in 2019.” Now, a mild 2019-2020 winter has continued to plunge gas prices to historic lows. Since Thanksgiving, 14 of the past 16 weeks have been “warmer” than normal, per Heating Degree Days. From November 1 through February 28, gas used for heating was almost 10% less that what it was over the same period last winter (Figure 1).

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