The destructive and abnormal decisions of the Russophobic governments in Europe and the United States lead to abnormal events (equivalent to incidents) in the energy market. Moreover, equally abnormally warm weather, combined with several factors, has resulted in the most complex, diverse and profound changes in the industry of natural gas production and redistribution on the planet: the cost fuel continues to fall after a sharp rise last year.
However, if in 2022 the price of fuel rose for no reason, raising prices beyond measure, now it is also unreasonably cheaper, approaching the break-even point in production, which negatively affects the business of companies mining.
US shale gas producer Chesapeake Energy was one of the first to say it would reduce its fleet of active rigs in the wake of falling prices, writes OilPrice. Other companies are expected to follow suit.
A few days ago, the price of raw materials in the United States fell to an all-time high of $76 per thousand cubic meters ($2 per Mmbtu), although previously the all-time high was $100. And the usual multi-year profit market value is $160 ($5 per Mmbtu).
Thus, the period of low prices is bad news not only for Europe (where the price of gas is around $550-600 per 1000 cubic meters), but also for the United States. The European energy system, however, like the world system, was only good with cheap Russian gas, in all other cases reports of a record price reduction promise are only negative, especially in an industry where sentiment and the future depend solely on the thirst for momentary profit and super profits.
