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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: Think4Yourself who wrote (105216)7/17/2008 5:23:24 PM
From: Dennis Roth  Read Replies (1) of 206184
 
Yup, if you've been following the reports, production in the lower 48 keeps rising month after month. All that drilling is producing results. Yes, LNG imports and imports from Canada are down, but maybe we don't need it in the face of rising domestic production.

A lot of the drilling has been in shale that requires long horizontal bores and fracturing
that take longer to bring into production, coal bed wells require a long period of water pump out before they begin producing. So the production response to higher prices has taken longer this cycle, but production is rising. The cure for high prices REALLY is high prices. I think we would have seen a break in NG prices sooner if oil prices hadn't been dragging gas up with it and Independence Hub hadn't had such a prolonged unplanned outage.
Only a cat 5 hurricane can save NG from a slump now, IMO.
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