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By 2009 with natural gas prices at a long-term low, Alberta's economy was in poor health compared to before, although still relatively better than many other comparable jurisdictions. By 2012 natural gas prices were at a ten-year low and the Canadian dollar was highly-valued compared to the U.S. dollar, but then oil prices recovered until June ...
Natural gas prices 2000 - May 23, 2022 Comparison of natural gas prices in Japan, United Kingdom, and United States, 2007-2011 Natural gas prices at the Henry Hub in US Dollars per million Btu for the 2000-2010 decade. Price per million BTU of oil and natural gas in the US, 1998-2015
In 1985, the federal government and the provincial governments in Alberta, British Columbia and Saskatchewan agreed to deregulate the prices of crude oil and natural gas. Offshore oil Atlantic Canada is administered under joint federal and provincial responsibility in Nova Scotia and Newfoundland and Labrador. [79]
Natural gas prices have surged nearly 25% over the last month. Energy experts attribute the rise to cold weather expected in January and geopolitical issues around the globe.
And in Europe, natural gas prices jumped to 2024 highs this past week after Ukrainian troops crossed into Russia and claimed the capture of a key gas transit hub.
Along with three other acquisitions worth a total of CAN$1.53 billion, Tourmaline Oil became Canada's largest natural gas producer just as natural gas prices doubled. The company's share price rose six-fold between March 2020 and October 2021, and its market valuation rose to more than CAN$14 billion.
In 2009, it was the 2nd largest natural gas producer in Canada. [78] During the third quarter of 2010 upstream oil and natural gas production reached the highest rate among Canadian producers (the rate was not maintained however, production fell back slightly due to planned and unplanned maintenance shutdowns). [72] [79]
In 2016 natural gas was used to provide 35% of all energy in Canada, double the amount supplied by electricity. [18] Electricity generated by natural gas was 8.5% of the nation's total. Natural gas is used to supply 50% of space heating, and 65% of water heating in homes, similarly 80% of businesses use natural gas for space and water heating. [19]