The article from Bloomberg is
here.
First 3 paragraphs:
Sept. 8 (Bloomberg) -- Tenaris Chief Executive Officer Paolo Rocca said U.S. power generators will switch from coal to natural gas next year, boosting sales for the world’s largest supplier of steel pipe to the oil and natural gas industries.
Natural gas prices close to a seven-year low will prompt industrial users to switch fuels in the first half of 2010, Rocca, whose family controls the company, said yesterday in an interview in London.
“There will be renewed interest for investment in gas,” Rocca said. “There will be substitution of coal and fuel oil in the production of power.”
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Hopefully, as this begins to kick in, we will begin to see a reasonable floor for NG prices that make it productive to start drilling again, seriously, in 2010.
Thoughts, comments on article?