The United States has an abundance of coal and natural gas. Yet, natural gas is actually imported, at great cost, to Boston’s LNG facility from Russia, Canada, and the Caribbean due to the lack of pipeline capacity. In late January natural gas from the Algonquin City Gate Hub (near Boston) sold for over $20 per million BTUs, and more than $23 on the futures market. Natural gas from nearby Pennsylvania cost just $4 in January.
Plenty of cheap natural gas is available in West Virginia and Pennsylvania, a few hundred miles away; and pipelines to supply New England are mostly built, but have been shut down by environmental lawsuits and regulatory hurdles. Because of the regional dearth of natural gas pipelines, and its high price, many in New England are burning oil for heat and electric power plants, and burned more coal in 2021 than in 2020.
One of the many ironies is that carbon dioxide emissions—the bogeyman of radical environmentalists—have decreased where there is sufficient natural gas to replace coal. But any additional gas for New England, as noted, must come from foreign sources.
Yes, this is insanity - and stupidity - on steroids.
Business as usual from the insane idiots running the world.