Anyone know why this huge spike to $3.57?
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Replies to This Discussion
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Permalink Reply by Mister Sunday on
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We didn't export before per government policy. Now we do. Open new markets, sell more product. I suppose the demand was always there, we were just cutting ourselves off at the knees by not filling it.
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Permalink Reply by Skip Peel - Mineral Consultant on -
There has never been a government policy prohibiting the export of LNG. There was no business interest in exporting LNG until 2008/2009 because we had insufficient supply prior to then. The first LNG facility built was for import. Chenierre decided to reconfigure for export when their business plan became untenable. There are rules on what companies can receive US LNG without approval but approval has never been a hurdle,
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Permalink Reply by Mister Sunday on
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I figured it was just like our oil.
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Permalink Reply by Skip Peel - Mineral Consultant on
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Oil export was restricted when domestic supply was decreasing through the last decades of the 20th century. The previous administration loosened the rules for lightly processed oil as supply was increasing from unconventional basins. Congress lifted the full ban in early 2016. Light crude has become an important export commodity. US must still import heavier crude grades.
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Permalink Reply by Billy Random on
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"I suppose the demand was always there, we were just cutting ourselves off at the knees by not filling it."
Yes, this is exactly what we were doing. Exporting has been a game changer.
I agree with the 3 points mentioned by dbob and skip.
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Permalink Reply by Mister Sunday on
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GO NATURAL GAS!
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Permalink Reply by Jesse Joyner on
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Xmas is always so much more fun when Santa has spiking NG in is sack of gifts, instead of lumps of dirty coal.
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Permalink Reply by Skip Peel - Mineral Consultant on
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LOL! Tis the season.
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Permalink Reply by john goodday on
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Frigid Winter - No Sunspots - LNG
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Permalink Reply by Skip Peel - Mineral Consultant on
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A seasonal weather related price hike on top of increasing incremental demand year over year.
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Permalink Reply by Skip Peel - Mineral Consultant on
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Trending much better for natural gas than oil. The rise in nat gas pricing is largely seasonal. The fall in oil pricing is market driven, meaning supply and demand related. Natural gas weighted companies have been making a slim profit and this will help at least temporarily. The big loser here is oil basins with marginal profit margins. In other words, very bad news for the TMS Play.
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Permalink Reply by Skip Peel - Mineral Consultant on
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It seems like only days ago WTI was flirting with $70/barrel. Today it is $55.69/barrel. For companies with marginal economics such as Australis in the TMS, this is indeed very bad news.
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