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- Chad Zamarin
Natural gas prices in North America were on a roller-coaster ride in 2021 as winter storm Uri, surging demand coupled with lagging production, and concerns over winter 2021–22 supplies jostled the market. Pressure is mounting in North America to accelerate the energy transition away from fossil fuels. Some state and local governments are pushing initiatives to move away from natural gas for end uses such as space and water heating. In other regions, state governments have passed legislation prohibiting municipalities from banning natural gas use. Is natural gas still the largest source of electricity generation? Will homes and businesses move away from gas furnaces in favor of electrification? Will hydrogen and renewable natural gas make significant market inroads? How will E&P companies adapt to the changing landscape? How do these trends shape the natural gas market and do they increase or decrease volatility during the decade ahead?