Gas Price Cap Could Cause Irreversible Harm To Energy Markets

Gas Price Cap Could Cause Irreversible Harm To Energy Markets

Earlier this week, the European Commission issued a statement declaring what it called a “safety price ceiling” for gas prices set at 275 euros, or $283 dollars, per megawatt-hour. Hailed as the long-awaited gas price cap that EU members have been discussing for weeks now, the ceiling’s aim, according to the Commission, will be used … Read more

‘Extremely challenging’ year for NB fireplace, firewood suppliers as demand heats up – New Brunswick

‘Extremely challenging’ year for NB fireplace, firewood suppliers as demand heats up – New Brunswick

Maritime Fireplaces owner Pat Bourque says record-high heating oil prices have more customers buying wood stoves and fireplaces to heat their homes. “Not just in our area, but even in the rest of the country, there’s been a huge demand. So our supply has been limited as far as getting wood stoves from our manufacturers,” … Read more

Natural Gas Prices Slide As Bearish News Continues To Mount

Natural Gas Prices Slide As Bearish News Continues To Mount

The US Henry Hub natural gas contract continued to sell off on Wednesday afternoon after having recorded steep losses at the beginning of the week. At 4:25 PM CT, front-month natural gas futures had fallen below $6 per MMBtu, trading at $5.865 per MMBtu, some 4.45% lower than at the beginning of the trading session. … Read more

Europe May See Forced De-Industrialization As Result Of Energy Crisis

Europe May See Forced De-Industrialization As Result Of Energy Crisis

The European Union has been quietly celebrating a consistent decline in gas and electricity consumption this year amid record-breaking prices, a cutoff of much of the Russian gas supply, and a liquidity crisis in the energy market. Yet the cause for celebration is dubious: businesses are not just curbing their energy use and continuing on … Read more

German Commission Propose 12 Euro Cent Gas Price Cap

German Commission Propose 12 Euro Cent Gas Price Cap

An expert gas commission in Germany has submitted a final proposal to the government, calling for a gas price cap at 12 euros cents per kilowatt hour to cover 80% of household gas consumption beginning in March and running until April 2024, Reuters reports. The gas price cap is meant to aid households that are … Read more

Americans See Another 10-Cent Drop In Gasoline Prices

Americans See Another 10-Cent Drop In Gasoline Prices

Prices at the gas pump have declined 10 cents in a week, according to AAA, which says recession fears and further releases of America’s strategic petroleum reserve (SPR) have contributed to the further declines. On Monday, average national gasoline prices per gallon were $3,793, nearly 10 cents lower than this time last week. The prices … Read more

Alberta gas prices at standstill, while other major Canadian cities see price drop

Alberta gas prices at standstill, while other major Canadian cities see price drop

After weeks of a paying a premium for gasoline, drivers in some Canadian cities saw relief at the pumps. Heading into the weekend Vancouver experienced one of the biggest single drops in gas prices in Canadian history dropping 35 cents, making prices in many areas $1.93 per litre. “Due to the refineries starting to come … Read more

Russia one of the ‘biggest threats’ to world economy amid recession fears: Freeland – National

Russia one of the ‘biggest threats’ to world economy amid recession fears: Freeland – National

Russia’s war in Ukraine is proving to be “one of the biggest threats” to the world economy at the moment, according to Deputy Prime Minister Chrystia Freeland. Freeland, who also serves as Canada’s finance minister, made the comments to reporters in Washington, DC, on Friday following the annual meetings of the World Bank Group and … Read more

US Households See Electricity Bills Soar As Energy Crisis Comes To America

US Households See Electricity Bills Soar As Energy Crisis Comes To America

One central theme that comes to mind is the impact of higher natural gas prices and, by extension, power prices. Americans will soon see higher gasoline prices at the pump because of OPEC+ production cuts slated for next month. Many folks will also see their electricity bills rise this winter because natural gas generators power … Read more

Hurricanes Ian, Fiona could drive up grocery costs on these items in Canada

Hurricanes Ian, Fiona could drive up grocery costs on these items in Canada

Hurricanes Ian and Fiona could have grocers that source food from Atlantic Canada and the southern United States passing higher costs on to Canadian consumers, experts say, as some businesses on the east coast begin to rebuild their battered industries. Any disruption to supply chains, which have seen major improvements in shipping costs and reliability … Read more