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To: yard_man who wrote (102652)	5/16/2001 2:26:33 PM
From: pater tenebrarum	Read Replies (1) \| Respond to of 436258

true, there's a lag. but there's also the fact that the wells that have been drilled lately have proven a lot more uneconomic than those drilled in the previous boom. the expected increase in supply has therefore not materialized...it is anemic compared to the drilling activity, which has been hectic. agree that not all of the planned generation capacity is actually going to be built, but even a slight increase in demand would send the price rocketing again. the price is after all determined on the margin, i.e. the LAST cubic foot being sold in any given period is what determines the price.