To help you understand what is going on in the energy sector and what we expect to happen in the future, our highly experienced Kiplinger Letter team will keep you abreast of the latest developments and forecasts (Get a free issue of The Kiplinger Letter or subscribe). You'll get all the latest news first by subscribing, but we will publish many (but not all) of the forecasts a few days afterward online. Here’s the latest…
There is good news for natural gas users: supplies of gas in storage are ample as winter begins, both in the U.S. and Europe. Mild weather last winter in much of the Northern Hemisphere kept gas inventories from falling too much, even as Europe weaned itself off imported Russian gas.
Now, Europe’s facilities for storing gas are about full and U.S. stockpiles are a bit above average. Also, increases in global capacity to export liquefied natural gas should keep markets relatively well supplied, mitigating potential shortfalls. Still, severe cold weather in Europe, the U.S. or Asia could cause prices to spike, both here and abroad.
Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
For now, U.S. gas prices are down from last year. Wholesale gas prices averaged about 17% lower in Oct. 2023 than in Oct. 2022. Gas futures prices are holding below $3 per million British thermal units, vs. over $5 one year ago. U.S. gas production keeps hitting new highs — ditto for U.S. gas exports.
In the first half of this year, the U.S. served as the largest exporter of LNG, and projections from the Department of Energy show LNG sales rising 10% this winter.
This forecast first appeared in The Kiplinger Letter, which has been running since 1923 and is a collection of concise weekly forecasts on business and economic trends, as well as what to expect from Washington, to help you understand what’s coming up to make the most of your investments and your money. Subscribe to The Kiplinger Letter.
Related Content
-
Visa Is the Worst Dow Stock Wednesday. Here's WhyVisa stock is down sharply Wednesday after the credit card company came up short of revenue expectations for its fiscal Q3.
-
Another Analyst Moves to the Sidelines on Tesla Stock After EarningsTesla stock is spiraling Wednesday after the EV maker's big earnings miss and Wall Street has been quick to weigh in. Here's what you need to know.
-
Kiplinger Special: The Long-Term Future of the U.S. EconomyThe Kiplinger Letter Kiplinger's report into what it will take the U.S. to maintain a healthy economic growth rate.
-
Chinese E-Tailers Are Surging in the U.S. Market: The Kiplinger LetterThe Kiplinger Letter Low costs and cheap shipping enable Temu and others to grab market share.
-
Why Your Electric Bill Will Keep ClimbingThe Kiplinger Letter There's no end in sight for energy rate hikes, so look for ways to curb your power use.
-
Future U.S. Economic Growth Hinges on ImmigrantsThe Kiplinger Letter With the native birthrate slipping, employers are increasingly relying on foreign-born workers to staff up.
-
Fed Rate Cuts Still on HoldThe Kiplinger Letter With inflation stubbornly elevated, the Federal Reserve will keep interest rates high for now.
-
A Spotlight on the Pacific States: The Kiplinger LetterThe Kiplinger Letter Most Pacific states are seeing good job growth in multiple sectors including tourism, hospitality, and construction.
-
The Robots Are Coming... But Not For a WhileThe Kiplinger Letter There’s excitement in the tech sector over the potential of humanoid robots, but widespread adoption is likely to be years away.
-
Farmers Face Another Tough Year As Costs Continue to Climb: The Kiplinger LetterThe Kiplinger Letter Farm income is expected to decline for a second year, while costs continue to up-end farm profitability.
