New methodology revises 2009 output down, and January 2010 output down, which in turn........had no positive effect whatsoever on the price of gas. The current weeks injection was the only data point that meant anything to traders.  I know this new method of accounting for production has been discussed here before but now that the results are in I am curious to hear your thoughts and opinions.



Later Thursday, the EIA said production of natural gas in February rose 1.6% from January's output, which it revised lower.

Using a new methodology this month, the EIA revised its January 2010 estimates downward by 0.6 billion cubic feet per day for the
continental U.S. The agency revised lower its 2009 output estimates for
the lower 48 states as well, ranging from -0.3% at the beginning of the
year to -1.3% at year-end, the EIA said.

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"The current weeks injection was the only data point that meant anything to traders."

sums it up i think. the silver lining is i like where we stopped the bleeding, much below 4 and i'd be worried.

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