Guess symbol? Hint not in USA or China
Agree if we could consume more. However, WE R Stuck with Obama, Reid, Pelosi and millions of fanatic liberals. At least for the next few years....I hope. If not Trouble and more trouble for the economy.
500 business NG curtailed. Not due to mid term or long supply shortages. Due to an anomaly and or short term issue. Not worthy enough to spend millions or billions in plant capacity to meet a short term peak that does not reoccur often.
Oh, I see now, your point is "IF". !!! Like, if frogs had wings they wouldn't bump their rumps when they hop. If I had a Billion$ I would buy a house in Malibu CA. Like if only houses in Michigan U.P weren't 6 homes to a square mile they would get NG instead of propane and wood for heating.
Suggest you read the many stories on PROPANE SHORTAGE and report correctly. Affected area are mostly rural. Logistics of a delivery system for propane is the problem due to grain drying was high due to wet crop, Wisconsin propane processor system was down, and exceptual cold spell. NOTHING to do with NG Supply Shortages. NOTHING! Please explain your post as how it effects ECA.
Yes, there R unknowns but Y buy something that is this unknow today. Today points to low NG prices for years to come. That is Y ECa has done very very very Poorly last few years versus Market. Sure market could crash, but it does not look like it will today. However, today NG prices are forecasted to stay low. At least u finally agree its a crapola shoot on ECA right now.
Just your opinion, right? Facts, there are many producers that will take a low ROI or even a loss on CAP EX due to need of CASH FOW requirements. Thus, low prices for quite a few years. Your $5.50 price PLUS are years away. Thus ECA will just stagnate for the same number of years. at least 3 years, most likely more.
Natural gas prices are climbing after a steep drop in supplies. But one analyst says bulls are forgetting something: There’s plenty more where that came from.
High production is still casting a shadow on the U.S. market, and the days of near-record-low gas prices are not over, says Katherine Spector, head of commodities strategy at CIBC World Markets. The current strength in prices could lead to even more supply down the line, she says.
Utility companies have pulled natural gas out of storage at high rates this winter to meet indoor heating demand. In the week ended Jan. 10 – when record-cold temperatures swept the Midwest and East Coast – 287 billion cubic feet of natural gas were withdrawn from storage, according to the Energy Information Administration.
That’s the largest storage withdrawal on record – and the second largest, 285 bcf, occurred last month.
Suddenly, market watchers are worrying that natural-gas supplies could drop to multi-year lows at the end of the winter, raising the bar for producers to replenish those inventories over the summer before temperatures drop again. Front-month Nymex futures recently traded up 2% at $4.412 a million British thermal units, just below multiyea
Ms. Spector says those fears are overblown. Domestic production held near multi-year highs in December, thanks to technical advances that have enabled energy producers to access supplies trapped in shale-gas fields. Output will only increase as new pipeline capacity is added, especially to transport gas from the booming Marcellus Shale,
Ms. Spector has been bearish for a while, and her 2013 prediction that natural gas prices would average $3.40/mmBtu was 33 cents too low. But she says the winter cold spike, despite recent soaring prices, is “the most bearish thing that could happen to gas.”
More producers are hedging, or locking in their prices for the next six to 24 months at current levels, Ms.
Spector said. Supply, regardless of storage levels, will keep prices low.