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Crosstex Energy, Inc. Message Board

  • lisahuang54321 lisahuang54321 Feb 10, 2010 6:47 PM Flag

    Natural-Gas ‘Pipe Dream’ Won’t Cut Glut Weighing on U.S. Price

    http://www.firstenercastfinancial.com/e_news.php?cont=35598

    Feb. 10 (Bloomberg) -- U.S. natural-gas production is unexpectedly rising even as energy companies halt drilling at the fastest pace in more than two decades because newly found fields are gushing more fuel than previous discoveries.

    The price of gas, the worst-performing U.S. energy futures contract of 2009, is on the verge of further declines when colder-than-normal weather and blizzards that have propped up demand from Chicago to Baltimore come to an end, said Porter Bennett, chief executive officer of Bentek Energy LLC, which tracks North American gas output and shipments.

    (article continues)

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    • Of course, lower gas prices could also mean higher sales quantities and more gas in the pipes.

      • 1 Reply to lner2512
      • The reason it needs to be kept around 5 bucks is so congress will pass legislation to adopt it as a long term or "gap" fuel for any transission from traditional sources of carbon fuel. We can't be using a fuel that costs more than what we're currently using so it makes sense that NG remains a cheap alternative. I for one want NG in my home (NG electricity stations..)and vehicle and anywhere else I can use it, but I don't want to pay through the nose for it. We will need all the production we can get for those targets to be met and as long as the gas is moving and being consumed even at 5 bucks, most if not all NG stocks will do well. There's a bigger picture out there than just 4 or 5 dollar NG.....

 
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