This winter is going to be tough!
We are warning you about the power grid failures coming in the USA. It is linked to the global demand for energy and the shortage across the EU and China. The Federal Energy Regulatory Commission shared their preliminary investigation into the power outages that put millions of Texans in the dark last February. The study exposed the problems that crippled the state were the same issues that triggered extensive outages ten years before.
NBC 5 investigated and realized how the natural gas industry had downplayed its role in the outages, explaining that gas supply problems were because of a lack of electricity gas wells and processing plants. The energy crisis leading to electricity shortages in the EU and Asia are coming to the US.
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Electric companies alert the customers about winter price hikes, and the energy hedge fund warned of potential gas shortages. Ernie Thrasher, chief executive officer of Xcoal Energy and Resources LLC, stated utility executives told him they’re nervous that fuel shortages this winter will trigger blackouts.
“These utilities are worried the assets that they have can’t get enough fuel,” Thrasher said in an interview. “There are people of high authority at large utilities that are deeply concerned.”
Also, he didn’t want to name the companies because they are coming from across the US. The global economic recovery from the C-19 pandemic increased the power demand, triggering shortages and higher prices for natural gas, particularly in Asia. So the coal is overused, results in short supplies around the world. US utilities are switching away from gas and expect to burn approximately 23% more coal this year.
The US has gas, enough for a typical winter, stated James Shrewsbury, a co-chief investment officer of e360 Power LLC. This company is a gas and power hedge fund in Austin, Texas. However, the low temperatures may lead to gas shortages. “If we get a prolonged cold this winter, there will be problems.”
Increased demand is bumping up against min output that has been falling in the past decades. The climate changes made suppliers reluctant to increase production capacity for the dirtiest fossil fuel.
Now, the US miners can meet their increasing calls for more fuel. Duke Energy Corp. and many others warned their customers about the spike in prices during the winter.
‘’ Duke’s Piedmont Natural Gas unit said Tuesday that high gas prices and low production would raise customer bills by about $11 a month in North and South Carolina. And Xcel Energy Inc. told Colorado regulators last month that its natural-gas customers will also see price hikes of about $11 a month due to tight supplies, an increase in gas exports, and damage from Hurricane Ida.’’ Bloomberg reported.
Take a look at the video below: