Future natural gas prices are expected to be higher, but demand will grow more slowly than in previous projections, according to the Energy Information Administration’s latest annual long-term forecast, the “Annual Energy Outlook 2006.”
Additionally, residential consumption of natural gas is projected to fall by 6 percent from 2005 levels this year but increase by 7.7 percent in 2007, the EIA says.
Energy conservation would help those cooling bills now and in the future. To help save energy:
* Put curtains on your windows to keep out the sun.
* Install a thermostat that will automatically adjust temperatures. Set it to 75 degrees when you’re at home in the summer, and turn it up when you’re out and about.
* Turn off lights, appliances and electrical equipment when not in use. Bake, wash, dry and iron in the early morning or evening.
* Clean or replace the air conditioning filter.
* Allow the dishes to air dry in the dishwasher.
Natural gas-related costs are made up of four main components: production, transportation, distribution, and market-determined commodity prices.
Once gas is produced, it is transported long distances by pipeline from the wellhead to the local gas company. It is stored by the gas company and distributed to customers in the area. The price of natural gas consumed is determined by supply, demand and other market conditions.
The Gulf of Mexico supplies 25% of the domestic natural gas consumed in the United States. However, damage from Hurricanes Katrina and Rita still blocks 11% of Gulf production.
23% of natural gas is for domestic use and 27% for power generation. Companies such as Mammoth Resource Partners, a Kentucky-based oil and gas exploration firm, are tapping into the gas-rich Appalachian Basin to help stem skyrocketing natural gas prices.
Recent Survey Shows Consumer Confidence in Banks Takes Serious Damage was shown. It is the recent situation of Northern Rock. Survey results show that nearly 25% of Brits say they don’t trust lenders, and less than 50% consider High Street banks to be trustworthy. The turmoil and turmoil that ensued after it was discovered that Northern Rock had taken loans from the Bank of England fueled rumors of impending bankruptcy, with many of his 1.5 million savers in the bank deducted from billions of pounds. It caused me to lose my savings.
As a result of this situation, the Bank of England increased the insurance for the savings of Northern Rock customers and those of other banks in similar circumstances. But these guarantees don’t seem to do anything for consumer confidence in banks, with over 50% saying they no longer trust big banks.
According to the survey, only 46% of the 2484 people surveyed now trust Main Street Bank. Bausparkassen is slightly better, with 48% expressing confidence in Bausparkassen. Online Banking has also been hit, and the restricted access to online bank accounts by Northern Rock customers has also impacted banking in this sector, experts said. Survey results show that only 25% of consumers trust online banking today.
Industry experts explained that consumer trust in banking and finance is already quite low, adding that the recent turmoil in Northern Rock has contributed to this lack of trust. But experts say it’s not just the banking sector that’s been affected. Lenders across the financial sector have been impacted by declining consumer confidence. This is believed to be due to financial sector-wide problems resulting from the credit crunch that occurred in the U.S. subprime sector and had global repercussions.
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