On December 23, 2022, natural gas consumption in the U.S. Lower 48 states reached a daily record high of 141.0 billion cubic feet (Bcf), according to estimates from S&P Global Commodity Insights. The previous record was 137.4 Bcf, set on January 1, 2018. Below-normal temperatures in mid- to late December increased demand for natural gas used for residential and commercial space heating and electric power generation. At the same time, natural gas production quickly fell because of mechanical issues caused by the cold temperatures. From December 21 through December 26, 2022, a winter storm moved across North ... (full story)