They (watford) have announced that they would not hedge 2014 when NG was 3.90 three months ago. That decison is being paid for right about now. If NG gets to 2.25 in May, we will be looking at 14 bucks for UPL A gamble which looks like it #$%$ out.
I agree with you. The problem is the oil producers and the government. It seems Government is not interested in pushing clean gas. I still see oil tankers bring heating oil to buildings in NYC,. These residential users are paying a much higher price and for oil that is imported. It makes no sense. NYC and any other city that has nat gas available should put an excise tax on heating oil. Use that money to help homeowners to convert to nat gas. Doing this will create job, reduce oil import and allow for a cleaner source of heating.
The problem with oil producers are that they don't care about nat gas byproduct while drilling for oil. Oil should not be trading about 60 anyway. But it is.
I wish a big US oil company or a Chinese one would by this company at a good price. I could always dream.