LNG Price Boom Seen as Japan Vies With China While Exxon’s Shipments Grow

[phantom power]

Liquefied natural gas prices are surging to a three-year high as demand from Japan, China and India outpaces supply increases, boosting sales for producers from BG Group Plc to Exxon Mobil Corp.

Record Japanese imports to replace nuclear power after the Fukushima Dai-Ichi disaster, plus a 27-percent jump in China’s first-half purchases, may send prices to about $20 per million British thermal units this winter, up 71 percent from 2010 and the highest since 2008, according to data compiled by Bloomberg. The world’s spare production capacity shrank about 50 percent this year as consumption grew, and will continue to decline through 2014, Sanford C. Bernstein & Co. says.

http://www.bloomberg.com/news/2011-09-19/lng-price-boom-seen-as-japan-vies-with-china-while-exxon-s-shipments-grow.html

[kristopher]

1. Well... "to replace nuclear power after the Fukushima Dai-Ichi disaster"

to replace nuclear power after the Fukushima Dai-Ichi disaster



The first step to getting out of a hole is to stop digging...

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=115x311298

[phantom power]

2. Be that as it may, there's also this *other* hole we're digging:

[kristopher]

3. And for double the duration of the graph nuclear has received massive govt support.

All it has accomplished is to solidify structure of the current centralized system that immortalizes the role of large coal plants.

Renewable energy restructures the system and eliminates the preferred status of coal AND nuclear.

[NickB79]

4. Bring on the fracking!

Nothing to see here folks, move along.