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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: Cogito Ergo Sum who wrote (3636)	8/16/2001 9:21:31 PM
From: schrodingers_cat	Read Replies (1) \| Respond to of 206291

I'm not really surprised by this week's AGA build. I looked at the weather reports last week and was delighted to see how hot it was all over the east. NYC had a low of 80 , which probably keeps a/c running all night, and a high of 100. There's about 50 million people along that east coast strip between Boston and DC, so it's a big deal for demand. The Midwest was hot too. There were also reports of tight power supplies, which implied that all the NG generation was running and that expensive distillate fueled turbines were being used to meet the peaks. I think the trouble is that the base load is met by coal and nukes and the NG demand doesn't take off until the load passes a certain level. The construction of new NG power plants has meant that NG is becoming the swing fuel for power generation, and this is throwing off the forecasters. I expect that next week will see a return to more normal builds. The temperatures in the north-east don't look like a/c weather to me. I am surprised by the market reaction, since I now think it is too late in the summer for this to make much difference to the storage situation. It confirms that there will be a lot of demand for gas when the economy starts growing and electricity demand increases, but then everybody knew that, or so I thought. IMO the OSX is priced for several years of poor economic performance, or maybe Wall St. is just clueless!