Replies to This Discussion

Permalink Reply by Matt Hodges on October 19, 2012 at 11:31

Nat. Gas closed at $3.58 today. Natural gas will slowly increase until after the election. If Romney wins then Nat gas prices will continue to slowly rise until the economy goes into overdrive.Then Nat gas prices will continue to rise until they reach
Approx. $8.00 per mcf. This is a sustainable price that will allow producers to make money. from that point on prices will be determined based upon the amount we export. I would sure like to sell Nat gas to Europe. The are now paying $20+ per mcf now.

If Obama gets re-elected then it is a different story. If Obama is re-elected I predict the entire energy will be NATIONALIZED within 2 years.

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Permalink Reply by Tom Browne on October 19, 2012 at 13:52

Are your predictions Miss Jane certified?

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Permalink Reply by Krkyoldhag on October 20, 2012 at 2:54

Who is miss Jane?  Is she like the EPA? or Good housekeeping seal of approval?

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Permalink Reply by JHH on October 20, 2012 at 0:17

Sounds about right. YIP YIP YIP!
Jhh

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Permalink Reply by Krkyoldhag on October 20, 2012 at 2:53

I don't understand this "weather related" theory.  The product  that is used for next 3 months was purchased back weeks or months ago.  I have been preaching for couple of years now that Obama will nationalize all energy from coal to oil to gas.Chavez is his hero.

If you want a blue print on how nationalization works  just look at the Mexican situation.

There was a time when Mexico could have been our best friend and best ally and I still don't really understand why that possibility was undermined.  Same with Cuba.  What did they do the last 30 years that caused DC to treat them like lepers?  So the Soviets got a toe hold into Cuba.  It didn't hold.  I bet that those Cubans are not communists to this day.

But   Hodges is right about the nationalization of our resources.

It sure would take care of O's deficits wouldn't it?  Scary.

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Permalink Reply by Les Bamburg on October 20, 2012 at 2:42

JHH, the November NYMEX contract price has trended up as the market sees the gas storage level return closer to historical levels indicating supply/demand may be reaching a balance point.  Also, we are moving out of the shoulder months into the gas withdrawal season.  The movement of the December NYMEX contract as we approach Thanksgiving will be a better indicator.  It is likely the upward tend will loose momentum as the price approaches $4.00/Dth.

 

I believe this trend in the NYMEX front month is related to market fundamentals and not US politics.       

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Permalink Reply by adubu on October 20, 2012 at 4:00

Les B--- comment from Natural Gas Trends-- TRRC most recent report 10/15/2012

Last week: U.S. natural gas storage at 3,725 Bcf

Working gas in storage was 3,725 Bcf as of Friday, October 5, 2012,

according to EIA estimates. This represents a net increase of 72 Bcf

from the previous week. Stocks were 236 Bcf higher than last year at

this time and 269 Bcf above the 5-year average of 3,456 Bcf.

Storage

 The

August 2012 Short Term Energy Outlook forecasts, by the end of

October, storage to reach record highs

Source:http://www.rrc.state.tx.us/forms/publications/ngtrends/index.php

www.eia.

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Permalink Reply by adubu on October 25, 2012 at 4:25

Les B--- Report today on Nat Gas in Storage---

November natural-gas futures /quotes/zigman/2199366 NGX12 -1.59% extended losses after the Energy Information Administration reported that inventories of the commodity rose by 67 billion cubic feet for the week ended Oct. 19.

Analysts polled by Platts expected a climb of between 63 billion cubic feet and 67 billion. Total stocks now stand at 3.84 trillion cubic feet, up 153 billion cubic feet from the year-ago level and 251 billion cubic feet above the five-year average, the government said.

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Permalink Reply by Krkyoldhag on October 22, 2012 at 3:09

Today the price is $3.92 ...only $1.08 to go and my prediction of $5 by end of year comes about.  I still hold to my prediction.

The price has risen more than that in past 2 weeks and its more then possible.

Where would you rather invest your money in smoke and mirrors of something like Facebook or in  natural gas?  Its a no brainer for me.

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Permalink Reply by P.G. on October 22, 2012 at 5:39

Imagine what NG prices would go to if the EPA gets to ban fracking..

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Permalink Reply by Krkyoldhag on October 22, 2012 at 6:02

That 's a really scary thought..but possible.

Without fracking would there be any Shale drilling?

I don't understand any of that debate one way or other.  I do know that "stuff" was injected into conventional wells all along...and that stuff was way closer to surface and aquifiers then the fracking stuff goes.

But good point.  Take out the Shale production and you back to the old conventional well supplies or to importing NG from other sources at $20 a mfc.

Its a crap shoot right now, isn't it?

I can't remember the explanation of why the price posted here on HS site is different fromt he one on the CNN money crawl and the stock report I subscribe to.

But no matter the reason I have smile on my face for a few hours over the $3.94 posting today.  And I still want to know if you guys are buying me a steak at Ernie's if it hits $5.00 by end of year.   I love red meat....have already lived forever so going to enjoy those hmmmm good thick rare steaks.

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Permalink Reply by P.G. on October 22, 2012 at 6:42

Imagine how much cheaper red meat would be if there were no corn used for ethanol fuel..

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