BrikoXAug 29, 2023

The big turnaround: how Europe's gas prices fell from €300 to €35 MWh in the span of a year

https://lemmy.zip/post/2073008

The big turnaround: how Europe's gas prices fell from €300 to €35 MWh in the span of a year - Lemmy.zip

cross-posted from: https://lemmy.zip/post/2073007 [https://lemmy.zip/post/2073007] > Archived version: https://archive.ph/UhQac [https://archive.ph/UhQac] > Archived version: https://web.archive.org/web/20230829230925/https://www.euronews.com/my-europe/2023/08/28/the-big-turnaround-how-europes-gas-prices-fell-from-300-to-35-mwh-in-the-span-of-a-year [https://web.archive.org/web/20230829230925/https://www.euronews.com/my-europe/2023/08/28/the-big-turnaround-how-europes-gas-prices-fell-from-300-to-35-mwh-in-the-span-of-a-year]

Show threadSHITPOSTING_ACCOUNTAug 29, 2023

For anyone wondering: still significantly above the pre-war price

This brings the continent closer to the traditional patterns seen before the pandemic when prices, sustained by Russia’s abundant and cheap deliveries, used to reliably range between €15 and €25 MWh.

Show threadanewbeginning
A lot less catastrophic than what had been announced.
Aug 30, 2023 at 3:19amWeb
Show threadEnderWi99inAug 30, 2023
The US was in a good position to take on a lot of these contracts and the Biden administration, despite what the right might think, is actually extracting more domestic O&G than at any point. The shift is also that when oil prices climb high enough it makes shale production profitable enough to actually extract. I don't see how it falls back to pre-war levels but the US can also more than make up for the demand with a high enough price per barrel. I think much under $50 a barrel of NYMEX, most of the US producers stop operating.