It's not as clean as you describe - natural gas is certainly a global market, as demonstrated by the price correlations: futures in the united states are typica

It's not as clean as you describe - natural gas is certainly a global market, as demonstrated by the price correlations: futures in the united states are typically based on the henry hub price, as determined by the price at the henry hub located in Erath, Louisiana. If we compare this to rates found at, for example, the UK national balancing point, we will find that there is a definite correlation. The international trade in natural gas is definitely non-trivial. Grandparent post is making the claim that gas is traded internationally and north Americans are generally not insulated from global prices. This is demonstrably true. https://www.theice.com/products/910/UK-NBP-Natural-Gas-Futures/data?marketId=5351150&span=2 https://www.theice.com/products/910/UK-NBP-Natural-Gas-Futur... https://ycharts.com/indicators/henry_hub_natural_gas_spot_price https://ycharts.com/indicators/henry_hub_natural_gas_spot_pr...