Friday, November 25, 2005

Looming crisis?

"Humankind cannot stand very much reality". T.S.Eliot

From yesterday's Financial Times (Wednesday November 23 2005):

Record gas prices prompt supply fears
The price of gas for delivery in January traded as high as £1.20 a therm...Spot prices traded as high as £1.70 a therm up from about 31p at the start of the month...
Because gas is heavily used in Britain to generate power, the wholesale price of electricity has also soared. The price of electricity for the next day rose from about £60 per megawatt hour at the end of last week to £105 yesterday.

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