Higher Natural Gas Prices Push Up U.S. Wholesale Electricity Prices

Rising fuel costs, especially those of natural gas, drove up wholesale electricity prices in all U.S. regions in 2021, the Energy Information Administration (EIA) said in an analysis on Friday. Average wholesale prices for electricity at all major trading hubs in the United States were higher in 2021 than in 2020 as a result of the rising costs of the fuels used for power generation. Natural gas accounts for the single largest share of U.S. electricity generation and represented 40 percent of the fuel used for power in 2020. “The cost of natural gas…

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Natural gas bans are new front in effort to curb emissions

But as New York and other left-leaning states consider ways to limit natural gas and the greenhouse gas emissions it creates, 20 mostly Republican states have passed laws barring cities and counties from blocking gas hookups. “Growing the demand for natural gas is exactly what the world does not need right now,” said New York state Sen. Brian Kavanagh, the Democrat who sponsored the natural gas phaseout legislation. “If you build buildings that rely on fossil fuels, you are baking in very long-term needs.” Fossil fuel combustion in buildings, mostly for heating,…

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Govt’s three years in power an ‘economic success story’

Prime Minister Imran Khan Friday said despite the 2018 worst balance of payment crisis, economic problems due to Covid-19, high commodity prices in international market and direct and indirect impact of humanitarian crisis in Afghanistan, Pakistan was expected to achieve over four percent economic growth – which was a major success. “Since we inherited a huge circular debt, ant-export policies, unstable financial conditions, less-competitive business environment and the policies of lower incentives for private sector, the present government’s three years are an economic success story,” he added. He expressed these…

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Climate Matters

During the month of December 2021 two warnings of impending sea level rise were issued by highly respected groups of climate scientists. These are professional scientists who do not deal in hyperbole. Rather, they are archetypical conservative serious-minded scientists who follow the facts. The most recent warning on December 30th is of deteriorating conditions at the Arctic and Greenland. The second warning is the threatening collapse in Antarctica of one of the largest glaciers in the world. As these events unfortunately coincide so close together, one at the top of…

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Gas suspension: Pakistan loses textile exports worth $250m

According to the working done by the All Pakistan Textile Mills Association (APTMA), the Punjab textile sector has sustained losses of $250 million in exports because of suspension of gas supply in December 2021. Shahid Sattar, Executive Director, APTMA, when contacted, confirmed that $250 million worth of textile exports were lost last month, which will never be recovered after mills in Punjab were denied gas for 15 days. However, sanity prevailed in the government circles and the Ministry of Energy restored gas from December 29 though with less gas supply…

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