Oil billionaire T Boone Pickens has predicted that crude oil will touch $150 soon. And he also says the one commodity that will grow bigger than oil is natural gas.
In the last one year, natural gas prices across the world, especially in the US, UK and Russia have more than doubled.
Now a report from Taipan Financial News says that natural gas price will rise and rise, and it is the best commodity to invest in.
Read the comments appeared in the TFN:
"UK's natural gas prices are set to climbed 25 per cent next year despite the fact they are already at record levels. This is because Japan has been paying twice as much for liquefied natural gas (LNG)
as the UK, and at some point it becomes economical to ship it to them.
Furthermore, as Russia secures its near monopoly in natural gas exported to Europe, it is ready to hike prices. Russia has 17 per cent of the world's natural gas and is, by far, Europe's largest supplier. Last week, Russia flexed its muscles last week by shutting down 25 per cent of the Ukrainian supply. The pipelines go through the Ukraine before heading west. Obviously, this has the Europeans skittish over their energy security. They are looking south to Africa.
What you may not know is that Algeria is the No. 2 supplier of natural gas to Europe and is expanding rapidly, growing by 57 per cent a year."
