Discover and read the best of Twitter Threads about #gasprices

Most recents (19)

1/8 Forward curves for 🇪🇺 gas prices (TTF) show falling prices but levels remain double 🇺🇸 benchmark (Henry Hub) until 2031.

Thus the 'Doomsday crowd' forecasts de-industrialization of 🇪🇺.

I am positioned the other way.

Chart via @GeorgZachmann
#gas #gasprices #EnergyCrisis
2/8 The first counter argument is that this is somewhat more a return to the past with TTF generally trading way above Henry Hub.
Chart via @MiguelGilTertre
3/8 In this context I also recommend to read the Substack article from @adam_tooze from September 2022. In essence he refutes the 'cheap Russian gas hypothesis' for 🇩🇪 and focuses on the relevance of energy efficiency.…
Read 8 tweets
Why has the mid-Atlantic and NE US seen higher #gasprices and diesel this year? Primarily, because its lack of refiners in the region. The US is sliced into various markets, all with slightly different supply and demand.
Big difference right now between PA and OH- big reason is PA is in a tight market, OH is not. In fact, while state gas taxes vary, this map is the key to why some neighboring states can be higher or lower than each other.
Supply in the Chicago market could be impacted by a refinery outage at a facility in Indiana, but that would be isolated to the states that make up the Chicago market, whereas refinery problems in California would affect the states that make up the West market.
Read 7 tweets
Latest on the suspected Russian attack on Baltic Sea gas pipelines:

There is now a consensus that the 🇩🇰PM's assessment is correct, this was deliberate sabotage. The question is, how can 🇪🇺 respond to a Russian attack in EU waters?
The first response is that European countries are this morning rushing to protect their energy infrastructure from Russian attack.

There is particular fear about floating LNG terminals, the lifelines to get non-Russian gas this winter.
The second response is that EU navies will have to be activated to protect maritime assets from Russian attacks.

The energy cold war just turned into an energy hot war, as Politico notes.…
Read 10 tweets
Dear @POTUS @JoeBiden @WhiteHouse,

1/ I've been an admirer since the 1980s when I would've identified as @GOP. Joe Biden always seemed like one of our smartest and most decent public servants. You were my 1st choice in 2008 & I was very happy when you were chosen as VP.
2/ Obv I supported you in 2020 & was able to help advance that campaign in small ways. Having a good person for the nominee was a happy bonus. But overall it was a crisis that called all-hands-on-deck. I would've helped anybody.

That crisis still is here. It hasn't gone away.
3/ Now as we near the halfway mark of the #BidenAdministration & #Midterms2022 the crisis actually has worsened. Things have gotten worse, not better in #Biden years. Now is an urgent, maybe last chance to muster the nation to meet the crisis.

I'm worried you're not doing that.
Read 14 tweets
Core #CPI (excluding those volatile #food and #energy components) came in at 0.6% month-over-month and rose 6.0% year-over-year.
Meanwhile, headline #CPI data printed at a very strong 1.0% month-over-month and came in at 8.6% year-over-year, spiking higher on #shelter, #gas and food costs.
These persistently outsized gains in #inflation are clearly having an impact on business and #ConsumerConfidence. Also, the #Fed’s favored measure of inflation, core #PCE, increased 0.34% in April, bringing the year-over-year figure for the measure to 4.9%, as of that month.
Read 14 tweets
"Listening well entails perceiving others as individuals with valuable and credible knowledge of their experience, and engaging in communication that does not discount or distort what is meaningful to both parties. -- Rosa Ritunnano @RRitunnano…
A huge Atlantic ocean current is slowing down—if it collapses, La Niña could become the norm for Australia…
#ClimateChange, #LaNina, #AtlanticMeridionalOverturningCirculation, #CurrentSlowdown, #GlobalConsequences
Read 13 tweets
Gas prices have reached unprecedented levels: Gasoline prices in California have now reached $10 a gallon.
- It seems like prices have reached national security crisis levels as prices in CA have reached $10.
- Before the memorial day weekend, gas prices in the Golden State reached over $7 a gallon.
- By Thursday the prices have exceeded $8 in many parts of Los Angeles
- Going into this weekend LA is seeing $9.50 a gallon.
- The national average for gas is at its highest in history going over $4.50
- While it's cheaper than in big cities the national prices are causing shockwaves around the country.
Read 6 tweets
1/6 A quick update on gas storage levels in Europe (a follow up to my thread from April 10th.).

Currently Europe is on course to reach 80% storage level before October.
2/6 Reuters reported a few days ago that Ukraine (a major transit route of Russian gas into Europe) is stopping some gas deliveries into Europe.…
3/6 Europe has made progress in filling up its gas storages as the weather has been getting warmer and less gas is used for heating. Current EU-27 gas storage level has reached 39.48% as of May 15th compared to 26% as of April 26th. Source:
Read 7 tweets
1/ Rising gas prices: The perfect opportunity for @MetrobusTransit to have @Joanne_NL @SeamusORegan coordinate with @TownofCBS @townofparadise @CityofStJohns @Mount_Pearl to get #parknride and #publictransit across the Metro region. #nltraffic #nlpoli #design709 ImageImage
2/ In all reality, a dependable public transit system could alleviate traffic in @TownofCBS, reduce car dependency, actually help with GHG reduction, and save constituents money. @DarrinBent @ShelleyMoores79 @AndreaGosse @mjhardynl @JoshBarrettCBS thoughts? Image
/3 The fact that we have no wide urban transit system is abhorrent. We dedicate nearly all transportation to personal vehicles, leaving a large chunk of the population venerable to small fluctuations in #gasprices. Also with no alternative option, it's own a car or poverty.
Read 9 tweets
Das Trump-Netzwerk "Truth Social" ist nach einem miserablen Start plötzlich die meistgeladene App im Apple Store. Wir haben uns auf "Truth Social" umgesehen – damit ihr es nicht müsst.
Zuerst erfinden wir einen Alias: Ron Roger, einen überzeugten Trump-Fan und Wahrheitssucher aus New Jersey. Wir hoffen, dass wir uns so unauffällig umsehen können. Foto von Ron Roger. Ein von...
Wer "Truth Social" nutzen möchte, braucht ein iPhone – die App gibt es noch nicht für Android. America first gilt auch im Apple Store: Man muss in den USA leben. Mit VPN-Tunnel und amerikanischer Handynummer ausgestattet, lädt sich Ron die App herunter.
Read 17 tweets
Cost of living search trends 🧵:

Search interest in “food prices” and “housing prices” have reached 10-year highs this month, US Image
“gas apps to save money” tripled over the past 3 months in the US #GasPrices
“states with no income tax” more than doubled over the past 3 months in the US.

See what states people are searching for "cost of living in..." over the past year:
1. Hawaii
2. Texas
3. Tennessee
4. California
5. Arizona
Read 5 tweets
2/ 11 EU nations say “Now is the time to be bold and to move ahead with determination with the green transition. Any delay ... will only prolong our energy dependence … negotiations on the package should therefore be accelerated and ambitions ramped up”
3/ “A strong ETS is the cornerstone of the FF55 package, providing us with an effective tool to ensure a cost-effective transition combined with ambitious sectoral measures and standards”
Read 3 tweets
Everybody is staring in disbelief at European #gasprices. If the gas market is broken as many have been saying, it would most visibly be seen in the TTF benchmark. Here are my two cents (warning, lots of correlations ahead!)
The main explanation for the much higher level of TTF is the fear premium brought about by Russia’s withholding of supply (pre-invasion), tight LNG markets and very low EU storage. But TTF really is off the charts. Fundamentally, is gas really worth the equivalent of $200/bbl?
The model I use to assess European gas prices says no. It’s a simple model that back-casts EU prices based on an US LNG export margins and a 6-9 month lag on Brent. The rationale is that gas prices in Europe should reflect a bit of oil indexation and the cost of spot LNG.
Read 9 tweets
$83.83 for almost a full tank of #gas in southwest #Atlanta.

Nonetheless, we persist 🇺🇦
#gasprices Image
As of Tuesday morning, the average cost for a gallon of gas in the country is $4.17 per AAA. The current price is up approximately 10 cents from Monday and more than 50 cents from last week. Costs are expected to continue to rise throughout the year.…
The sanctions put on #Russia by the U.S. and #EuropeanUnion severely impacted Russia's ability to sell crude oil, one of the biggest determiners for gas prices. Since the country is one of the biggest energy suppliers, crude oil prices have dramatically risen.
Read 4 tweets
@MikeCox86177818 @anonfmresident @PremierScottMoe "The US benchmark crude is West Texas Intermediate (WTI). WTI is very light and low in sulfur (sweet), and is actually lighter and sweeter than the international benchmark, North Sea Brent. 

Canada produces a wide variety of crude oils, but much of the growth in recent years

@MikeCox86177818 @anonfmresident @PremierScottMoe been heavy sour crude from the oil sands. Bitumen from the Athabasca region is very heavy and high in sulphur, comparable in quality to Venezuelan Boscan crude. About 50% of Alberta's bitumen is upgraded into synthetic sweet crude oil
@MikeCox86177818 @anonfmresident @PremierScottMoe The remaining 50% is blended and sold to market (primarily the US) as heavy sour crude streams. 

Outside of the US, the world's oil supply is becoming increasingly heavy and sour while transportation fuels are becoming increasingly light, high-quality and ultra-low in sulfur.
Read 11 tweets
All those pundits and politicians on @cnn @msnbc @business @abcnews @NBCNews @CBSNews @cnbc screaming about the high cost of gasoline need to look at this chart. This inflation-adjusted #gasprices data from the Bureau of Labor Stats shows gas prices are in fact at 50-year lows:
And because people want to be sure data sources are accurate, here's another inflation-adjusted, real-and-nominal #gasprices chart from the EIA. Again, today we are nowhere near the real-price peaks under Reagan, GWB, and Obama:
Even with #gasprices flat in real terms, they would be even lower if not for states having to increase #gastaxes to pay for federal mandates whose funding was gutted by TFG's tax cuts for the rich, per non-partisan @CenterOnBudget. Chart courtesy of @TaxFoundation and the API.
Read 7 tweets
Update Energiepolitik:
- russische Gaslieferungen nach Deutschland über die Jamal-Europa-Pipeline komplett gestoppt,
- Gaspreise knacken nächste "psychologische Marke",
- #NordStream2 mit technischem Gas befüllt,
- Putin und Scholz führen ihr erstes Telefonat.
Thread 👇
Die Auslastung der wichtigen Jamal-Europa-Gaspipeline, über die das russische Gas nach Europa geliefert wird, ist auf Null gefallen.
Über diese Route fließt derzeit kein Gas mehr nach Deutschland.
Andere Pipelines (wie etwa #NordStream 1) sind weiterhin befüllt.
An der Energiebörse reagierten Anleger mit teils panischer Stimmung.
Innerhalb eines Tages sprang der Gaspreis um Dutzende Prozentpunkte nach oben, knackte die "psychologische Marke" von 2000$ pro 1000 Kubikmeter und erreichte sogar Höhen von 2150$.
#Gaspreise #gasprices
Read 9 tweets

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