{"id":61143,"date":"2021-12-28T08:27:55","date_gmt":"2021-12-28T13:27:55","guid":{"rendered":"https:\/\/olduvai.ca\/?p=61143"},"modified":"2021-12-28T08:27:55","modified_gmt":"2021-12-28T13:27:55","slug":"this-economy-is-going-down","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=61143","title":{"rendered":"This economy is going down"},"content":{"rendered":"
\n
\n
\n

This economy is going down<\/a><\/h3>\n<\/div>\n<\/div>\n<\/div>\n
\n
\n
\n
\n
\n
\n
\n
<\/div>\n<\/div>\n<\/div>\n<\/section>\n

UK gas prices have fallen back this week \u2013 although they are still some 400 percent higher than at the start of 2021.\u00a0 And the reasons for the fall in price should not breed complacency.\u00a0 First, the arrival of a south-westerly airflow off the Atlantic has finally begun to spin those offshore wind turbines after last week\u2019s doldrums.\u00a0 At the time of writing, wind is supplying 28.5 percent of our electricity, allowing gas to fall back to 27.4 percent, and for coal plants to be switched off \u2013 although nuclear is being run flat out at 20 percent, reflecting the still too high price of gas.\u00a0 With stronger winds forecast for next week, demand for gas may fall even further.\u00a0 But the winter is only just beginning, and it is doubtful that we will get through January, February and early March without at least one more week of cold, still, high pressure air.\u00a0 And if we are unlucky, we could face several weeks in a row.<\/p>\n

The second reason for the lull in price is worrying for a more complicated reason.\u00a0 On Wednesday, Marwa Rashad at\u00a0Reuters<\/em><\/a>\u00a0reported that:<\/p>\n

\u201cAt least ten cargoes of liquefied natural gas (LNG) have recently been diverted from Asia to head west drawn by Europe\u2019s record high prices amid supply concerns ahead of peak winter demand, industry sources said\u2026<\/em><\/p>\n

\u201cIn addition to the above cargoes, a U.S. cargo onboard Marvel Crane had headed toward Panama bound for Asia before being diverted northeast and now signalled it was bound for the UK\u2019s South Hook terminal, according to ICIS LNG Edge.<\/em><\/p>\n

\u201cData Intelligence firm Kpler said it has listed more tankers diverting towards Europe from Asia and Other destinations like Brazil including British Contributor, Tembek, LNGShips Manhattan, LNG Alliance and are eying two more for possible route change.<\/em><\/p>\n

\u2026click on the above link to read the rest of the article\u2026<\/p>\n<\/div>\n<\/div>\n<\/article>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

This economy is going down UK gas prices have fallen back this week \u2013 although they are still some 400 percent higher than at the start of 2021.\u00a0 And the reasons for the fall in price should not breed complacency.\u00a0 First, the arrival of a south-westerly airflow off the Atlantic has finally begun to spin […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[265,281,1714,1190,17653,30640,31360],"class_list":["post-61143","post","type-post","status-publish","format-standard","hentry","category-economics","tag-energy-crisis","tag-europe","tag-liquified-natural-gas","tag-lng","tag-natural-gas-price","tag-the-consciousness-of-sheep","tag-tim-watkins"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/61143","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=61143"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/61143\/revisions"}],"predecessor-version":[{"id":61144,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/61143\/revisions\/61144"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=61143"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=61143"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=61143"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}