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.
Credit Card Companies Are Doing Something Nuts
Credit card companies are at war. The biggest issuers are handing out free rewards and benefits to win the best customers.
It’s possible to find cards paying unlimited 1.5%, 2%, and even more today. That’s free money for qualified borrowers, and the type of thing that would be crazy to pass up. Those rewards can add up to thousands of dollars every year in free money, and include other benefits as well.
We’ve assembled some of the best credit cards for users today. Don’t miss these offers because they won’t be this good forever.
Flywheel Publishing has partnered with CardRatings for our coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.
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