And once gas withdrawals begin in the summer, the U.S. has one winter left before we have run our storage system dry. Once this occurs, we will be forced to relegate natural gas to a seasonal use. Here in Wisconsin, nary a week goes by without a utility or an independent company announcing plans to build a gas-fired power plant during the next decade. At last count, some 6,000 megawatts worth of new gas-fired generating capacity have been proposed, and some of these plants are now moving through the permitting pipeline. If you are wondering what sort of risks are posed by relying so heavily on natural gas given existing supply constraints, California is a good place to begin your research.
Prudent investors respond to uncertainties by diversifying their portfolios and hedging their bets.
In the current energy environment, a heightened emphasis on conserving energy and developing renewable power sources would serve to reduce customer exposure to wild gyrations in natural gas prices. Let us do what we can in Wisconsin to minimize wasteful energy consumption and expand the contribution of our native energy sources before we strap ourselves into the natural gas thrill ride that has left Californians distinctly unamused. The Dismal Scientist, December 18, 2000. The Dismal Scientist, December 13, 2000. The Dismal Scientist, November 21, 2000.