Things to Come

The price of natural gas in the UK has tripled in the last 10 days.

Ahem. Let's check that again:

The price of natural gas has tripled in the last 10 days in a country that used to be a major natural gas supplier (from the North Sea.) This has come at a time of sustained sub-zero temperatures in the UK, which Canada has mercifully been spared thus far.

With all the stresses NAFTA is under already, I'll be interested to see if the energy provisions survive this winter. There are bound to be questions as to why we're sending NG south while Canadians pay record prices for it here.

Natural gas follows more or less the same cycle that oil does, albeit at a much faster pace. So if this is what Peak Gas looks like, just imagine it slower to get an idea of what Peak Oil will look like.