Yesterday, we wrote about the ascendance of natural gas reserves from "unconventional sources" such as fracking and its impact on world energy markets. We posed the question of whether plentiful and cheap natural gas can act as a bridge for renewable energy, or whether it absolutely strands the progress of wind,solar and energy storage.
Here's graphic evidence from the EIA of the price plunge the commodity has taken:
Prices are down because of a mild winter, high production, and strong inventories. On March 31 -- the end of winter for the natural gas market -- spot natural gas prices at the Henry Hub approached $2 per million British thermal units (MMBtu). On April 18, the natural gas spot price at Henry Hub was $1.87/MMBtu, according to the EIA.