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Gold/Mining/Energy : Big Dog's Boom Boom Room

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To: Ed Ajootian who wrote (40799)	3/25/2005 9:47:58 AM
From: quehubo	Read Replies (1) of 206223

How much influence does #2 oil price have on ng prices? How much demand is waiting for NG for each $0.25 drop? Round and round the point spins in my brain, this Winter HDD season and last Winter appear to be setting in with very similar GW HDD totals and storage draws. The same amount of gas used for similar weather loads but this year the price averaged $1.60 mbtu higher, and April is set to be $1 higher than the March contract and higher than the average of the entire Winter contracts. So even after all these wells drilled and all this demand squashed by high prices we still have essentially the same draw. It certainly appears to me that ng prices have nothing to do with #2 oil prices as long as #2 fuel switching prices are 40% higher. The price being set for ng is with an efficient market rationing demand.

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