Take that, oil: natural gas and its exchange traded fund (ETF) can grab its own headlines.
Turkey is concerned about the customs procedures between itself and Russia, which threaten gas and petroleum trades and sales. Turkey relies on around 60% of its natural gas and 50% of its oil from Russia. Any disruption in crude could send Turkey to look for it from other countries or on the spot market. But there’s no such luck with natural gas, reports China View.
If Russia cuts back on what it promised, Turkey would almost certainly face an energy crisis. Their current deal expires in 2011.
Meanwhile, compressed natural gas cars are in low demand, overshadowed by those powered by electricity, propane and hydrogen. At one time, they were popular, as they offered a tax incentive program which later backfired, according to Kerry Snyder for Arizona Republic. Now people are having trouble finding places to fuel up, and some who want to own such cars are having trouble getting their hands on new models.