Not everyone gets their gas supply from the Gulf, so what gives? Why are the prices up? I live in Canada, why did my prices go through the roof?
I've heard that question asked many a time and I'll point out the answer here. Roughly a third of the US oil production has been shut down. That leaves you guys with two choices; shut down a third of the country or find the gas somewhere else. So you're buying my gas, California's gas and France's gas or whoever elses' to compensate, which creates an increased demand in those markets or a shorter supply, whichever way you prefer to look at it. Something this big has a global impact.
However, Forbes saves the day :
pop the bubble, already!
That's going to hurt oil companies and investors, but everyone else will be happy I reckon.