[ If this heat keeps up as predicted (google "heat wave 2016") we will enter the winter heating season (30 October 2016) with the lowest level of natgas in storage in the last 5 years.]
Do some basic math before you post such bull. The lowest peak going into winter over the last five years is around 3.6Tcf. We would need to average a 21Bcf/week fill to get there, which isn't going to happen.
Because it's not true. Wall has a problem with the truth sometimes, okay the majority of the time.
What I don't understand is how Essar Global could sign a letter of intent with the USW when they were booted out of the process.
We are currently 586 Bcf above the 5 year average. So if what you are saying is true then we will need to underfill the 5 year average by 1086 Bcf in the next 14 weeks or 77.5 Bcf/week. Last week it was 13 Bcf/week, the week before it was 38 Bcf/week. I would love to see the math that you and gwmortgage use, because you two are full of cr*p.
We are currently 507Bcf ahead of last year. Divide that by your 9 weeks then we will need average net inflows of 56.3 Bcf/week less then last year to get there. I don't think we have done that for a single week this year, but your spreadsheet can't be wrong, can it.
The weekly nat gas update from last week said production was up about 1 Bcf/d over the previous week. I wish they would get a handle on that. We will get the next weekly update this afternoon, curious if production eases a little bit.
I downloaded the safari browser on my PC and that currently takes me to this old board. Not sure how long that will last.
I don't know why Cliff's would be in court, they have nothing to fight over here. The mineral lease is the states problem. The secured debt holders will get pennies on the dollar, just like Cliffs in the bloom lake CCAA process.
This whole bankruptcy process will take at least a year to work itself out and Cliffs won't need money until that process is complete. They won't move forward with a signed supply contract, so with that in hand financing shouldn't be a problem.