Natural gas is the second largest primary source of energy consumed in the United States, exceeded only by petroleum. A primary energy source is an energy source that can be consumed directly or converted into something else, like electricity. Roughly a third of the natural gas consumed in the United States goes into power plants for the production of electricity. Electricity, a secondary energy source, results from the conversion of primary fuels such as fossil fuels, uranium or wind, into a flow of electrons used to power modern life. This book explores the workings of the wholesale markets for these two forms of energy, as well as energy-related financial markets.
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