Most of the world’s supply of LNG is delivered under long-term contracts, which means that any disruption to energy supplies caused by natural or man-made disasters could push spot prices sharply higher almost instantly.
New production, particularly from gargantuan projects in Australia, will improve supplies, but those projects are still a year or more from becoming reality. And costs are exploding. Exxon Mobil Corp. (NYSE: XOM) recently raised its cost estimate for an LNG project in Papua New Guinea and Chevron Corp. (NYSE: CVX) and Royal Dutch Shell PLC (NYSE: RDS-A) have done the same for their massive projects in Australia.
The higher prices may help offset the billions of dollars cost increases these firms have just committed. But by the second half of this decade, these and other new projects, including at least one in the United States, will be on-line and today’s shortages may turn into tomorrow’s glut.
100 Million Americans Are Missing This Crucial Retirement Tool
The thought of burdening your family with a financial disaster is most Americans’ nightmare. However, recent studies show that over 100 million Americans still don’t have proper life insurance in the event they pass away.
Life insurance can bring peace of mind – ensuring your loved ones are safeguarded against unforeseen expenses and debts. With premiums often lower than expected and a variety of plans tailored to different life stages and health conditions, securing a policy is more accessible than ever.
A quick, no-obligation quote can provide valuable insight into what’s available and what might best suit your family’s needs. Life insurance is a simple step you can take today to help secure peace of mind for your loved ones tomorrow.
Click here to learn how to get a quote in just a few minutes.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
