Warm Winter Plays Havoc with Gas and Oil Prices. But Don’t Say the “C” Word
March 4, 2023
No mention of the “C” word in this impassioned sob story about the crashing price of gas and oil.
Gas in particular has seen prices collapse during the unsettlingly warm winter across the US and Europe.
On the plus side, Vladimir Putin has lost his gamble, so far, if he hoped to have Europe groveling for gas this winter.
On the other hand, winter will come around again, and there is no guarantee that the next one will be this mild. Meanwhile the race continues to wean from Russian gas, and in fact, all fossil fuels, as the Ukraine war has been a clarifying moment for anyone that wanted to believe a transition could be delayed..
Below, US prices over last 3 years as of March 3, 2023.
Climate Denial Crock of the Week 
March 4, 2023 at 8:07 pm
Bulls make money.
Bears make money.
Pigs get slaughtered.
As a general rule, the people who deal directly with the physical good (soybeans, oil, gas) have the least flexibility while everyone else is playing games with futures.