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 (52925)	10/13/1999 3:35:00 PM
From: Think4Yourself	Read Replies (1) of 95453

Doug, I found this statement from the following Bloomberg article to be fascinating: quote.bloomberg.com ``We managed to work off a huge 500 billion-cubic-foot storage surplus coming out of winter,' said Gavin Kosviner, an energy futures trader at Citibank NA in New York. ``So if we have any weather this year, supplies could be tight.' The exciting thing to me is not the statement itself, but rather what it implies. Electrical generation worked off that huge surplus. With DOZENS of new turbines coming online in the next year, I wouldn't be surprised if there is little or no shoulder season next year and we enter the heating season at all time low storage levels. The times they are a changin! :o)

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