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by rsj_hn 1686 days ago
> I'm not sure if you're just expressing your personal concerns over what you believe can hypothetically happen, or whether you're grossly misinformed.

So do you have an argument to make, or just a stream of ad hominem followed by smoke and mirrors?

You point out that oil and gas prices are high all over the world with a price gap between gas prices in the US and the rest of the world -- because gas is shipped overseas in LNG form and it's a separate market, thus there is generally a gap between world gas prices and domestic gas prices -- to address this we do things like build pipelines from cheap gas countries (like Canada) to other countries and we build more liquefaction plants. But you take this price gap as some sort of vindication of U.S. policy, that perhaps Biden is keeping gas prices low?

So let me spare you the trouble. The facts that Biden has restricted Oil and Gas drilling, cancelled one pipeline and is about to cancel another, and is trying to discourage oil investment by taking away the investment tax credits from this industry -- these increase gas prices, and gas prices have been increasing. Just not as much as in other parts of the world. That is true even if there is there is structural gas price gap vis-a-vis the rest of the world and even if prices are not at the level they were before the fracking revolution caused them to tumble and be truly affordable to many.

2 comments

Please stop posting flamewar comments to HN and breaking the site guidelines. You've done it repeatedly lately, it's not what this site is for, and it destroys what it is for. That means we have to ban such accounts. I don't want to ban you, so if you'd please review https://news.ycombinator.com/newsguidelines.html and stick to posting in the intended spirit, we'd appreciate it.
> So do you have an argument to make (...)

I already did. You made an unsubstantiated claim, and I pointed out your personal assertion was wrong and baseless, and provided a time history of gas prices as evidence, including the fact that not so long ago they were over 3 times higher than the current market price.

If you have a problem with the facts feel free to point out what exactly leads you to believe that justifies the discrepancy between your personal beliefs and the facts.

No, you are wrong.

>the fact that not so long ago they were over 3 times higher

They never were. You can check futures price data here: https://www.investing.com/commodities/natural-gas On top of that you're probably talking about those spikes in 2005 and 2008, but they were short lived and spikes are natural for gas markets because of various circumstances (seasonality, pipeline situation, weather, how full are the reserves etc).

>not so long ago It was 13 years ago! And now it's the highest price since. The reason for such a ridiculously low prices for so long was shale gas extraction. Now US is losing this and more. Because natural gas prices are so sensitive (and react quickly!) to various things - you better hope for warm winter with decisions like these...

Also comparing prices in US and in other countries is intellectually dishonest or you simply don't know how natural gas market works.