Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: Douglas V. Fant who wrote (50792)	9/9/1999 7:17:00 PM
From: Think4Yourself	Read Replies (3) of 95453

I just mentally connected two trends. Most of you probably did this a long time ago. 1. Rig counts and your comments indicate supply not adequate. 2. Demand likely to skyrocket, as following article paragraph indicates. New York, Sept. 9 (Bloomberg) -- Natural gas rose more than 9 percent, the biggest gain in a year, as higher prices for competing fuel made natural gas a bargain. And using the following info from post 50662 this morning: "when crude prices began to tumble (in late 98), residual fuel-oil prices went down faster than natural-gas prices. This led larger customers, including utilities, to switch to the cheaper oil, eating away about 3% of the natural-gas market last year." "We lost about 1.2 billion cubic feet per day of gas consumption in the latest period of oil-to-gas competition" he says. With the rise in oil prices, maybe we're starting to win that back." I just now became a believer that we WILL see $4-$5 gas this winter since supply and demand are going in opposite directions.

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