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Energy Markets Need Winter, and Climate Change Is Taking It Away

Summary:
The warmest January on record is making life difficult for oil and gas traders. It turns out that global warming isn't good for fossil fuel companies either.They are using artificial snow at some sky resorts.For global energy markets it’s a disaster—and as the world continues to get hotter it’s something producers, traders and government treasuries will have to live with long after the acute dislocation of the coronavirus has passed. The industry relies on cold weather across the northern hemisphere to drive demand for oil and gas to heat homes and workplaces in the world’s most advanced economies. Climate activists might find a certain poetic justice in energy markets suffering from the global warming caused by fossil fuels. Burning natural gas, oil and other fuels to heat homes and

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The warmest January on record is making life difficult for oil and gas traders.


It turns out that global warming isn't good for fossil fuel companies either.

They are using artificial snow at some sky resorts.

For global energy markets it’s a disaster—and as the world continues to get hotter it’s something producers, traders and government treasuries will have to live with long after the acute dislocation of the coronavirus has passed. The industry relies on cold weather across the northern hemisphere to drive demand for oil and gas to heat homes and workplaces in the world’s most advanced economies.

Climate activists might find a certain poetic justice in energy markets suffering from the global warming caused by fossil fuels. Burning natural gas, oil and other fuels to heat homes and businesses accounts for as much as 12% of the greenhouse-gas emissions blamed for raising the world’s temperatures.


Bloomberg

Energy Markets Need Winter, and Climate Change Is Taking It Away

Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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