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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: whitepine who wrote (6992)2/25/2002 4:56:37 PM
From: Raymond Duray  Read Replies (2) of 206110
 
I find the "ignore" feature on SI to be very useful. You might as well. :)

Re: why in world would they ever have allowed the price of NG in CA and across the nation drop from 10 to 2?

A more intelligent question would be how did it get from 3 to 60!! at the California border. The answer, well documented in this thread:

Subject 50623

is that El Paso sold the transmission rights to its SoCal pipeline to a wholly-owned subsidiary, which blocked other NG shippers from using the line in the critical days of December, 2000 and January, 2001. While the price of NG was at 10 in New Mexico, and the typical transport fee was, and is a buck per mcf, no one from El Paso can explain the extra $49/mcf they pocketed. The mysteries of the market. And the joys of SPEs.

I can see you like to argue. That's good. SI is a venue for lively debate. However, if there were more facts and less vitriol in your posts, they might be more useful to the thread.

Cordially, Ray
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