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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: energyplay who wrote (26111)10/4/2003 10:11:34 AM
From: russwinter  Read Replies (1) of 206319
 
<You can also out source your plastic parts from China.>

That in large measure is why we see such consistently high oil prices, China (and the Asians generally) is ripping through it more and more. Therefore, the US is becoming more and more NG dependant, can't rely on oil switching. And those gas fired plants keep getting cranked on to boot, to produce electricity (*). Here's a biggie just this week:
Message 19365455
That should at least keep a solid floor under NG prices, and that's all you need when these guys are trading at 3.5-4.0 EV/CF. All the low hanging fruit has been picked on demand destruction, temporary switching. The pendulum to going to swing back the other way, and the true test will be the coming heating season.

(*)
Electricity generation for week ended 9/27/03 was 73,813, 2.3% above last year's number of 72,183. 52 week running average of electricity generation is up 4.85%.
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