Chicom style fraud.
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hahahahah…and the oil ans gas majors said it would be our saving grace
So when does natty spike?
A link to this news was posted in Cain’s blog last week. I’m tellin’ ya, I gets no respect.
You’re the best Pimp. No one knows the erl like you.
methinks natty could rise short term to 4.15 (watch Nymex front month) but then drop to 3.70-3.80/dth. This fall should see prices drop. Rig count is way too high and industrial demand is simply not there.
Only thing that could change this is Obama announcing an energy policy directed at natty. Then all bets are off.
Rig count has swung in favor of oil drilling instead of NG since earlier this year. Overall I agree with you that those looking for a big bull run in NG are going to have to wait. There will be seasonal pops but a sustainable move is probably years away.
G. Allen Brooks, author of the “Musings from the Oil Patch” newsletter goes into more detail about the Marcellus revisions. I’ve always appreciated what this guy has to say.
http://www.rigzone.com/news/article.asp?hpf=1&a_id=110610&hmp=1
The most interesting part is how few of these shales should be considered profitable over the course of entire business cycle.
Po, thanks for the overall agreement,as well as the link. I follow u in ppt and respect your opinions. And since I broker electricity (day job), I have to be right in my long-term natty assessment.