After a two-year high, natural gas prices have decreased to the lowest level since December of 2014.
"U.S. natural gas inventories remain historically elevated for this time of year, and will look to challenge the latest rise in prices going forward," said Robbie Fraser, a commodity analyst at Schneider Electric.
According to The Wall Street Journal, futures for January natural gas delivery decreased 3.2 cents (0.9%) to $3.603 per million British thermal units (BTU) on the New York Mercantile Exchange. At one point, trading was as high as $3.748 a million BTUs.
"In the event that weather moderates and we get another period of normal to low-normal demand, then it’s going to quickly come back into focus," said Zane Curry, director of markets and research at Mobius Risk Group.
Despite the market fluctuation, the benefits of natural gas and other renewable forms of energy are consistently positive.
What makes natural gas so attractive?
Affordability - Natural gas still costs much less than other forms of energy, and it often compares favorable to renewable energy sources. In fact, energy savings are a big part of the industry's recent success. That's why working with a reputable energy company can potentially save money in the long run, especially if they utilize alternative sources of fuel. Talk to an electricity provider and renewable energy company today if you want to learn more about alternative plans for power. Already, solar energy users save 75 million barrels of oil each year.
Better for the World - Another added benefit of natural gas is that it's so much more environmentally friendly than other fossil fuels. Although natural gas isn't as clean as wind power and other forms of renewable energy, it is the cleanest fossil fuel energy source. Natural gas also has fewer impurities, is much less complex chemically, and its combustion results in less pollution compared to other fossil fuels.
Produced in America - Wholly 97% of the domestically used natural gas was produced in North America. So along with the other added benefits of natural gas, the use of U.S.-based energy will reduce overall dependency on foreign oil sources. This can result in a better economy because more jobs are created due to high demand for natural gas. Roughly 35,000 jobs are created for every 1% of increased production.
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