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Strategies & Market Trends : The Financial Collapse of 2001 Unwinding -- Ignore unavailable to you. Want to Upgrade?

To: elmatador who wrote (8205)	11/6/2021 1:15:18 AM
From: Elroy Jetson	Read Replies (1) \| Respond to of 13794

U.K.’s Lack of Gas Plan Leaves Country at Mercy of Global Market - bloomberg.com Demand for gas is rising across Europe, and some fear (correctly) that the UK could be physically - and politically - at the back of the EU queue. - bbc.com Post-Brexit the UK has become a Clown-Patrol nation which still imagines demanding their "rights" as a EU member, which they're not. When the UK is willing to pay a huge price to buy natural gas beyond their very limited contracted amount and limited storage, they can only purchase this gas because it has been made profitable for someone entitled to the gas at contracted rates to forgo their gas usage. That's how free market prices clear a shortage. - en.wikipedia.org The UK used to produce ALL of their gas in the North Sea and could easily do so again fairly quickly, but they've chosen to let this production slip to less than 50% of their own demand due to clueless conservative Boris bureaucrats in London. What's more, the UK has scant storage facilities - it's been increasingly operating a "just-in-time model", which means it's more affected by short-term price fluctuations in the wholesale gas market. Because of the UK's lack of gas storage facilities, it has to buy large quantities on the wholesale market. UK wholesale gas prices hit a record high this week. Where does UK gas come from? The UK has been a big producer of gas since the mid-1960s - but output has fallen since 2000 and usage continues to rise. We now import more than half our gas - much of it from Norway, and a considerable amount from the Netherlands and Belgium. Liquid natural gas (LNG) - transported by ship from countries like Qatar - has increasingly been in demand in the UK, but there's competition for supplies from the likes of China. Russia supplies less than 5% of the UK's gas, but provides much of the gas used by the rest of Europe.