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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: Dennis Roth who wrote (23983)6/19/2003 11:48:19 AM
From: Archie Meeties  Read Replies (2) of 206302
 
Last week 11bcf of base gas was renamed working gas.

"For the first time in the weekly storage survey, reported working gas volumes for the week ending June 6, 2003 included reclassification of 11 billion cubic feet from base gas to working gas."

IOW, 11bcf less injected than originally reported. If this had been reported along with last weeks suprisingly bearish build I think the market would be different. The selloff is somewhat predicated on a trend toward larger than expected (as in 2001) builds. Last weeks number was actually not as bearish as it first appears, unless of course storage operators all over have are finding ways to convert base gas to working gas. Even that is a short term fix.
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