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.
Utah is one place that seems to be getting it right, though: natural gas has been fueling the locals’ driving needs, giving them a cheap alternative for gas. Public policy and private initiative has given Utah the green light on using natural gas for their cars, reports Clifford Krause for The New York Times. State residents are scouring the internet looking for used natural gas cars and the word of mouth is spreading, leading many to wonder if natural gas is the transport fuel of the future.
Consumers of natural gas are to get ready for a 35% jump in the price for this resource. Homeowners need to be aware and start conservation methods now by installing replacement windows, adding insulation and getting a better water heater, reports EarthTimes. United States Natural Gas Fund (UNG) offers a place to capitalize on this price increase – if you have any left over from your heating and remodeling bills.
UNG down 6.2% year-to-date.
The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.