U.S. natural gas prices hit the highest level since 2008, with the U.S. benchmark Henry Hub edging close to $8 per million British Thermal Units on Monday afternoon.
The last major Henry Hub price spikes in 2008 and 2006 were partly due to hurricane activity in the Gulf of Mexico, the Epoch Times reports. Prices in 2008 peaked at $13.32 per million on July 3rd.
Prices fell in 2009 and have remained relatively still since then due to the rise of fracking.
The latest price surge comes as Europe scrambles to replace Russian natural gas with that from other countries, including the U.S., amid the ongoing invasion of Ukraine.
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Not a problem noticed in Texas where my electric bills are still running half of what I paid in Illinois. Natural gas is being diverted to Europe but the ability to package and ship it overseas or pipe it up north to New England, is still limited thanks to the Biden regulations that is limiting our ability to produce and export it, where we should be swimming in natural gas that now has to be burned off at the drill site and wasted in many cases. Instead of building charging sites for Electric cars nobody can afford we should be building oil pipelines and Natural gas processing terminals for national defense. Just what idiot votes for what the insane Democrat Controllers keep trying to stuff down our socially controlled, freedom of choice sore throats and now are gagging upon?
all part of the leftist plan to kill america as is and change her to a godless marxist hell!
YET another nail i n the dems coffin. I HOPE.