How will Japan keep the lights on now? Markets are predicting with natural gas as Asian spot markets for LNG jumped 5%, reaching $9.90 for a thousand cubic feet. By comparison, the friday Henry Hub spot price in the USA was $3.72. Shale gas supplies in the USA have created oceans of gas at low prices.
A theme of this blog is that no energy choice is perfect. Every choice made or not made has effects. Stop using gas means using more coal and oil in America for example. Judgments about any energy source cannot be made without understanding the full consequences within the energy marketplace of our energy choices.
In Japan replacing lost nuclear power means more natural gas used to make electricity and at a high price.
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