Gasoline, natural gas, and electricity remain at the heart of the massive U.S. energy complex. As Fall is now upon us, some seasonal demand patterns can be observed.
Data source: EIA; JTC
For natural gas, increasingly our main source of electricity that is evolving into being our main source of energy, the high demand winter market starts in November.Some 50% of U.S. homes utilize gas for heating. And apparently not enough people realize that the push for more electrification - from electric cars to port operations to heating itself - will inevitably mean more natural gas because gas is rising toward being 50% of all U.S. generation capacity."For example, even in those states like California and New York that are blocking new gas hookups for buildings in favor of electricity, gas will remain heavily utilized. Gas is overwhelmingly their main source of power.
For those seeking a more stable and low price gas market, the good news is that gas production continues to break records and is not seasonal., and we should even get a surplus before the winter market hits.As for electricity, U.S. demand obviously peaks in summer when air conditioners are blasting. And even with an increase in electricity-based heating, power demand drops 16-18% in Q4 from the summer months.As for our primary source of power, lower commodity prices will continue to encourage more demand: EIA has natural gas generation up 7% this year as compared to 2018.
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