!!!!! WARNUNG ******* US GASPREIS ***** WARNUNG !!!!! - 500 Beiträge pro Seite
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| Platz | vorher | Wertpapier | Kurs | Perf. % | Anzahl | ||
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| 2. | 3. | 0,1905 | +0,79 | 113 | |||
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von 6 auf 8 !!! $
+ 20 $ an einem Tag !
von 6 auf 8 !!! $
+ 20 $ an einem Tag !
Bei 10 $ gingen in California die Lichter aus
Warnung !
#1
20 % natürlich !
20 % natürlich !
heisst das, dass ich hier auch bald nicht mehr warm duschen kann??
fun
bist du ein warmduscher????
bist du ein warmduscher????
Trading Spotlight
Entgegen der offiziellen Darstellungen nehmen die Gasreserven der USA seit Jahren dramatisch ab.
Die Gafik zeigt die Aufsummation der Neufunde jeweils auf das Jahr der Entdeckung datiert. Von dieser Summenkurve wurde die bisherige Gesamtproduktion abgezogen, um so den tatsächlichen Verlauf der Reservelage zu erhalten. Auch wenn sich dies für 1998 mit der aktuellen Lage der berichteten Reserven deckt, so ist die zeitliche Entwicklung deutlich anders als offiziell dargestellt.
Durch die ständigen Höherbewertungen der anfangs als zu klein angegebenen Reserven wird ein Reservewachstum suggeriert, wie es nicht der Realität entspricht. Die jüngsten Berichte deuten an, daß man an die Grenze der Höherbewertungen gestoßen ist, und jetzt der tatsächliche Trend der Neufunde zutage tritt.
Dass diese Reservelage sich noch nicht in einer stark rückläufigen Produktion ausdrückt, liegt am zu Erdöl unterschiedlichen Produktionsprofil von Erdgas. Es gibt jedoch deutliche Anzeichen, daß sehr bald die amerikanische Gasproduktion dramatisch zurückgehen wird.
Daten: US Department of Energy (Energy Information Administration), Bundesanstalt für Geowissenschaften und Rohstoffe, Petroconsultants
Analyse: LBST
http://www.energiekrise.de
Die Gafik zeigt die Aufsummation der Neufunde jeweils auf das Jahr der Entdeckung datiert. Von dieser Summenkurve wurde die bisherige Gesamtproduktion abgezogen, um so den tatsächlichen Verlauf der Reservelage zu erhalten. Auch wenn sich dies für 1998 mit der aktuellen Lage der berichteten Reserven deckt, so ist die zeitliche Entwicklung deutlich anders als offiziell dargestellt.
Durch die ständigen Höherbewertungen der anfangs als zu klein angegebenen Reserven wird ein Reservewachstum suggeriert, wie es nicht der Realität entspricht. Die jüngsten Berichte deuten an, daß man an die Grenze der Höherbewertungen gestoßen ist, und jetzt der tatsächliche Trend der Neufunde zutage tritt.
Dass diese Reservelage sich noch nicht in einer stark rückläufigen Produktion ausdrückt, liegt am zu Erdöl unterschiedlichen Produktionsprofil von Erdgas. Es gibt jedoch deutliche Anzeichen, daß sehr bald die amerikanische Gasproduktion dramatisch zurückgehen wird.
Daten: US Department of Energy (Energy Information Administration), Bundesanstalt für Geowissenschaften und Rohstoffe, Petroconsultants
Analyse: LBST
http://www.energiekrise.de
antw. an lalli: nein bausparer
Reuters
US Cash Product - Distillates fall v. bullish futures
Monday February 24, 12:22 pm ET
NEW YORK, Feb 24 (Reuters) - Cash distillate differentials fell in trading hubs east of the Rockies early Monday, keeping outright prices strong as the NYMEX heating oil contract hit an all-time high.
ADVERTISEMENT
The NYMEX heating oil contract for March delivery traded at a record high of $1.1525 a gallon, as colder temperatures and more snow were forecast for the next five days in the U.S. northeast as well as colder-than-expected weather for March.
Recent draws in U.S. inventories of distillates fuels, coupled with war jitters, cold weather and high natural gas prices supported recent heating oil strength. On Monday, the March NYMEX natural gas contract hit a two-year high of $8.10 per million British thermal units.
Gulf and Harbor gasolines held or extended gains amid news of planned maintenance at a major Gulf Coast refinery.
Exxon Mobil Corp. (NYSE:XOM - News) said on Friday units at its 516,500 barrels per day (bpd) refinery in Baytown, Texas were in planned maintenance from Feb. 8, but would offer no further details.
The company declined to cite the capacities of the refinery`s units or specify which unit or units were down, but trading sources said one of the plant`s several crude units was down.
In the Midwest, distillates fell in line with the other hubs, while gasolines traded steady.
Midday, NYMEX petroleum futures traded higher amid continuing bullish sentiment. April crude oil traded up 77 cents at $36.35 a barrel, March heating oil traded up 3.40 cents at $1.1425 a gallon and March gasoline traded up 2.22 cents at $1.0350 a gallon.
April heating oil traded up 3.49 cents at $1.0335 a gallon and April gasoline traded up 2.29 cents at $1.0970 a gallon.
US Cash Product - Distillates fall v. bullish futures
Monday February 24, 12:22 pm ET
NEW YORK, Feb 24 (Reuters) - Cash distillate differentials fell in trading hubs east of the Rockies early Monday, keeping outright prices strong as the NYMEX heating oil contract hit an all-time high.
ADVERTISEMENT
The NYMEX heating oil contract for March delivery traded at a record high of $1.1525 a gallon, as colder temperatures and more snow were forecast for the next five days in the U.S. northeast as well as colder-than-expected weather for March.
Recent draws in U.S. inventories of distillates fuels, coupled with war jitters, cold weather and high natural gas prices supported recent heating oil strength. On Monday, the March NYMEX natural gas contract hit a two-year high of $8.10 per million British thermal units.
Gulf and Harbor gasolines held or extended gains amid news of planned maintenance at a major Gulf Coast refinery.
Exxon Mobil Corp. (NYSE:XOM - News) said on Friday units at its 516,500 barrels per day (bpd) refinery in Baytown, Texas were in planned maintenance from Feb. 8, but would offer no further details.
The company declined to cite the capacities of the refinery`s units or specify which unit or units were down, but trading sources said one of the plant`s several crude units was down.
In the Midwest, distillates fell in line with the other hubs, while gasolines traded steady.
Midday, NYMEX petroleum futures traded higher amid continuing bullish sentiment. April crude oil traded up 77 cents at $36.35 a barrel, March heating oil traded up 3.40 cents at $1.1425 a gallon and March gasoline traded up 2.22 cents at $1.0350 a gallon.
April heating oil traded up 3.49 cents at $1.0335 a gallon and April gasoline traded up 2.29 cents at $1.0970 a gallon.
Hmm 
Von 6 auf 8 wäre ein Anstieg von 33, 3 %.
Also an der Nymex sehe ich am Freitag einen Anstieg von 6,16 $ auf 6,61 $ mit 6,70 $ in der Spitze. Das ist immer noch für eine Terminware sehr, sehr viel (7,3%), der Chart ist in der Tat recht dramatisch.
Von 6 auf 8 wäre ein Anstieg von 33, 3 %.
Also an der Nymex sehe ich am Freitag einen Anstieg von 6,16 $ auf 6,61 $ mit 6,70 $ in der Spitze. Das ist immer noch für eine Terminware sehr, sehr viel (7,3%), der Chart ist in der Tat recht dramatisch.
rumsfeld hat mit powell u. bush im oval office artig gebetet...
Rumsfeld: " dear god... zügle meine kriegslüsternheit u gier..."
aber god sprach zu seinem werkzeug: "georg, nimm alle streitkräfte, die du hast u. zieh gegen meine feinde
(=achse des bösen) u. ich will dir das eroberte land schenken -gegen das du dich dann so erfolgreich "verteidigt hast"
und du u. alle , die dir in meinem namen folgen werden, werden nie mehr "kalte füsse" bekommen -so wahr ich god bin!"
"georg, zieh in den iran, das land, das ich dir u. deinen
streitern verheißen habe :
es gibt dort riesige erdgasvorkommen!
was erdgas ist u. wo iran liegt, lass dir von condoleezza erklären, die ich dir dafür extra zur seite gestellt habe."
und bush erwachte aus seinem suff u. glaubte die stimme des allmächtigen gehört zu haben.
1. tag der neuen schöpfungsgeschichte...
cu
rightnow
Rumsfeld: " dear god... zügle meine kriegslüsternheit u gier..."
aber god sprach zu seinem werkzeug: "georg, nimm alle streitkräfte, die du hast u. zieh gegen meine feinde
(=achse des bösen) u. ich will dir das eroberte land schenken -gegen das du dich dann so erfolgreich "verteidigt hast"
und du u. alle , die dir in meinem namen folgen werden, werden nie mehr "kalte füsse" bekommen -so wahr ich god bin!"
"georg, zieh in den iran, das land, das ich dir u. deinen
streitern verheißen habe :
es gibt dort riesige erdgasvorkommen!
was erdgas ist u. wo iran liegt, lass dir von condoleezza erklären, die ich dir dafür extra zur seite gestellt habe."
und bush erwachte aus seinem suff u. glaubte die stimme des allmächtigen gehört zu haben.
1. tag der neuen schöpfungsgeschichte...
cu
rightnow
Gasoil
und schlimmer Heizoel zieht nach !
Heizoel auf ALLZEITHOCH !
Höher als bei der Energiekrise 2000 als im
California die Lichter / Heizungen aus gingen !!
und schlimmer Heizoel zieht nach !
Heizoel auf ALLZEITHOCH !
Höher als bei der Energiekrise 2000 als im
California die Lichter / Heizungen aus gingen !!
8,50 $ jetzt
ich war schon einige Male in L.A. und was die Jungs da am wenigsten brauchen ist eine Heizung!
In Seattle oder Chicago sieht man das anders!
9,13 $
Was ist da denn los ?????
Was ist da denn los ?????
Heating oil, natural gas spikes on supply concerns
NEW YORK (AP) — Crude oil futures rallied again Monday, boosted by record intraday prices for heating oil and continued fears about war in Iraq.
Natural gas futures also surged on a blast of cold air that is seen boosting heating demand into next week in a market already worried by tumbling gas supplies.
On the New York Mercantile Exchange, the front-month March heating oil contract climbed to a record of $1.1535 a gallon, surpassing the previous all-time high of $1.15, set in November 1979. The contract closed at $1.1467 a gallon.
The rally gave the rest of the petroleum complex a lift. Nearby April crude rose 90 cents to close at $36.48 a barrel. March gasoline settled at $1.0475 a gallon, up 3.47 cents on the day.
Across the Atlantic on London`s International Petroleum Exchange, the gains were just as strong. Nearby April North Sea Brent futures closed up 88 cents at $33.15 a barrel.
"The crude oil market continues to trend higher, pulled along by a strong heating oil market and the continued drumbeat for war with Iraq," said Tim Evans, senior energy analyst at research firm IFR Pegasus in New York.
The heating oil surge mirrored a rally in natural gas futures, which climbed to 25-month highs on forecasts of cold weather and expectations of a sharp drawdown in storage. The March contract shot up $2.531, or 38%, to settle at $9.137 per 1,000 cubic feet.
"What`s concerning the market today is that the weather is not giving us any signs of spring," said Phil Flynn, a trader and analyst at Alaron Trading Corp.
NEW YORK (AP) — Crude oil futures rallied again Monday, boosted by record intraday prices for heating oil and continued fears about war in Iraq.
Natural gas futures also surged on a blast of cold air that is seen boosting heating demand into next week in a market already worried by tumbling gas supplies.
On the New York Mercantile Exchange, the front-month March heating oil contract climbed to a record of $1.1535 a gallon, surpassing the previous all-time high of $1.15, set in November 1979. The contract closed at $1.1467 a gallon.
The rally gave the rest of the petroleum complex a lift. Nearby April crude rose 90 cents to close at $36.48 a barrel. March gasoline settled at $1.0475 a gallon, up 3.47 cents on the day.
Across the Atlantic on London`s International Petroleum Exchange, the gains were just as strong. Nearby April North Sea Brent futures closed up 88 cents at $33.15 a barrel.
"The crude oil market continues to trend higher, pulled along by a strong heating oil market and the continued drumbeat for war with Iraq," said Tim Evans, senior energy analyst at research firm IFR Pegasus in New York.
The heating oil surge mirrored a rally in natural gas futures, which climbed to 25-month highs on forecasts of cold weather and expectations of a sharp drawdown in storage. The March contract shot up $2.531, or 38%, to settle at $9.137 per 1,000 cubic feet.
"What`s concerning the market today is that the weather is not giving us any signs of spring," said Phil Flynn, a trader and analyst at Alaron Trading Corp.
Der Dammbruch !
Natural Gas Futures Surge 38 Percent
Mon Feb 24, 7:12 PM ET Add Business - AP to My Yahoo!
By BRAD FOSS, AP Business Writer
NEW YORK - The price of natural gas surged 38 percent Monday to its highest level in more than two years as concerns about supplies and cold weather prompted a flurry of buying on the New York Mercantile Exchange.
Related Quotes
DJIA
NASDAQ
^SPC
7858.24
1322.38
832.58
-159.87
-26.64
-15.59
delayed 20 mins - disclaimer
Quote Data provided by Reuters
Tax season to-do list:
1. Sharpen pencils.
2. Mark calendar.
3. Panic.
Tax Season Coverage
from Yahoo! News
"The weather keeps staying cold and gas in storage keeps going down," said Ron Gist, an analyst at the Houston-based energy consultancy Purvin & Gertz.
"I think that what finally happened is that the dam burst," said Gist.
The March contract, which expires Wednesday, closed Monday at $9.137 per 1,000 cubic feet, up $2.531.
Analysts said the increase might also have been due to traders who had expected earlier that prices would drop, and who now had to cover their bets before the contract expired. The difference could be seen in the April contract, which closed Monday at $7.622 per 1,000 cubic feet.
In January 2001, the front-month contract averaged $8.06 per 1,000 cubic feet.
The Energy Department`s statistical arm, the Energy Information Administration, said last Thursday that nationwide inventories declined 15 percent, or 203 billion cubic feet, to 1.17 trillion cubic feet for the week ended Feb. 14. That compared with inventory of 2.04 trillion cubic feet a year earlier.
On Monday, traders also worried that cold weather in the Rocky Mountain region would eventually reach the East Coast, which is already experiencing high demand — and higher prices — for heating oil, Gist said.
"The local distribution companies are faced with a tight market," Gist said.
Tom Kloza, an analyst at Oil Price Information Service, a Lakewood, N.J., publisher of industry data, said the buying was not unique to the futures market. "Some companies had to put in bids of $28 (per 1,000 cubic feet) on the cash market, or gas for immediate delivery," he said.
Kloza said there has also been talk among traders that some suppliers are having difficulty meeting delivery schedules and that pipelines may be in need of more product in order to maintain minimum levels of pressure needed to move the natural gas through the distribution system.
"It shows you what a cold winter will do," Kloza said.
"I think that what finally happened is that the dam burst," said Gist.
Natural Gas Futures Surge 38 Percent
Mon Feb 24, 7:12 PM ET Add Business - AP to My Yahoo!
By BRAD FOSS, AP Business Writer
NEW YORK - The price of natural gas surged 38 percent Monday to its highest level in more than two years as concerns about supplies and cold weather prompted a flurry of buying on the New York Mercantile Exchange.
Related Quotes
DJIA
NASDAQ
^SPC
7858.24
1322.38
832.58
-159.87
-26.64
-15.59
delayed 20 mins - disclaimer
Quote Data provided by Reuters
Tax season to-do list:
1. Sharpen pencils.
2. Mark calendar.
3. Panic.
Tax Season Coverage
from Yahoo! News
"The weather keeps staying cold and gas in storage keeps going down," said Ron Gist, an analyst at the Houston-based energy consultancy Purvin & Gertz.
"I think that what finally happened is that the dam burst," said Gist.
The March contract, which expires Wednesday, closed Monday at $9.137 per 1,000 cubic feet, up $2.531.
Analysts said the increase might also have been due to traders who had expected earlier that prices would drop, and who now had to cover their bets before the contract expired. The difference could be seen in the April contract, which closed Monday at $7.622 per 1,000 cubic feet.
In January 2001, the front-month contract averaged $8.06 per 1,000 cubic feet.
The Energy Department`s statistical arm, the Energy Information Administration, said last Thursday that nationwide inventories declined 15 percent, or 203 billion cubic feet, to 1.17 trillion cubic feet for the week ended Feb. 14. That compared with inventory of 2.04 trillion cubic feet a year earlier.
On Monday, traders also worried that cold weather in the Rocky Mountain region would eventually reach the East Coast, which is already experiencing high demand — and higher prices — for heating oil, Gist said.
"The local distribution companies are faced with a tight market," Gist said.
Tom Kloza, an analyst at Oil Price Information Service, a Lakewood, N.J., publisher of industry data, said the buying was not unique to the futures market. "Some companies had to put in bids of $28 (per 1,000 cubic feet) on the cash market, or gas for immediate delivery," he said.
Kloza said there has also been talk among traders that some suppliers are having difficulty meeting delivery schedules and that pipelines may be in need of more product in order to maintain minimum levels of pressure needed to move the natural gas through the distribution system.
"It shows you what a cold winter will do," Kloza said.
"I think that what finally happened is that the dam burst," said Gist.
9,70 $
10 $
Jetzt liebes W
Board werdet Ihr live miterleben, wenn der Moloch USA keinen Sprit mehr in der Nadel ( Pipeline hat )
Jetzt liebes W
Board werdet Ihr live miterleben, wenn der Moloch USA keinen Sprit mehr in der Nadel ( Pipeline hat ) 
Reuters
NYMEX oil to surge as heating oil, natgas soar
Tuesday February 25, 9:41 am ET
NEW YORK, Feb 25 (Reuters) - NYMEX crude oil futures should open higher on Tuesday fueled by soaring heating oil and natural gas amid more Arctic weather in the United States and as the possibility of war with Iraq hovers in the background.
ADVERTISEMENT
NYMEX April crude (CLJ3) was called to open 40 cents to 50 cents higher after ending overnight ACCESS trading up 48 cents at $36.96 a barrel, trading $36.49 to $37.02.
In London at 9:30 a.m. (1430 GMT), April Brent crude (LCOJ3) traded 52 cents higher at $33.67 a barrel.
"Crude will open higher but the story is also natural gas," said a NYMEX floor trader, noting the heating oil and natural gas futures should push crude futures, pending more provocative headlines on Iraq or other simmering hot spots.
In overnight ACCESS trading, NYMEX Henry Hub natural gas futures hit $11.899, a new all-time high. The March contract, due to expire on Wednesday, finished ACCESS trading at $10.90 per million British thermal units (mmBtu), easily eclipsing the $10.10 previous high for front month U.S. gas hit in late December 2000.
OPEC (News - Websites)-member Venezuela`s struggle to bring crude output back amid a lingering strike that started Dec. 2 has helped boost crude prices, but also crimped refining both in Venezuela and the United States, pushing U.S. products inventories down.
With March refined products contracts nearing a Friday expiration, NYMEX March heating oil (HOH3) was called 3.00 cents to 3.40 cents higher after ending ACCESS trade up 3.33 cents at $1.18 a gallon, an overnight and all-time high.
The new all-time high for a front-month contract extended Monday`s surge. Nearby technical resistance is expected at $1.20. Support is due at $1.15, the all-time high trade eclipsed on Monday.
NYMEX March gasoline (HUH3) was called to open 1.00 cent to 1.25 cents higher after ending overnight trade up 1.25 cents at $1.06 cents a gallon, the ACCESS high. Resistance is expected at $1.0720. Support is expected at $1.03.30.
Gas: 10,90 $
NYMEX oil to surge as heating oil, natgas soar
Tuesday February 25, 9:41 am ET
NEW YORK, Feb 25 (Reuters) - NYMEX crude oil futures should open higher on Tuesday fueled by soaring heating oil and natural gas amid more Arctic weather in the United States and as the possibility of war with Iraq hovers in the background.
ADVERTISEMENT
NYMEX April crude (CLJ3) was called to open 40 cents to 50 cents higher after ending overnight ACCESS trading up 48 cents at $36.96 a barrel, trading $36.49 to $37.02.
In London at 9:30 a.m. (1430 GMT), April Brent crude (LCOJ3) traded 52 cents higher at $33.67 a barrel.
"Crude will open higher but the story is also natural gas," said a NYMEX floor trader, noting the heating oil and natural gas futures should push crude futures, pending more provocative headlines on Iraq or other simmering hot spots.
In overnight ACCESS trading, NYMEX Henry Hub natural gas futures hit $11.899, a new all-time high. The March contract, due to expire on Wednesday, finished ACCESS trading at $10.90 per million British thermal units (mmBtu), easily eclipsing the $10.10 previous high for front month U.S. gas hit in late December 2000.
OPEC (News - Websites)-member Venezuela`s struggle to bring crude output back amid a lingering strike that started Dec. 2 has helped boost crude prices, but also crimped refining both in Venezuela and the United States, pushing U.S. products inventories down.
With March refined products contracts nearing a Friday expiration, NYMEX March heating oil (HOH3) was called 3.00 cents to 3.40 cents higher after ending ACCESS trade up 3.33 cents at $1.18 a gallon, an overnight and all-time high.
The new all-time high for a front-month contract extended Monday`s surge. Nearby technical resistance is expected at $1.20. Support is due at $1.15, the all-time high trade eclipsed on Monday.
NYMEX March gasoline (HUH3) was called to open 1.00 cent to 1.25 cents higher after ending overnight trade up 1.25 cents at $1.06 cents a gallon, the ACCESS high. Resistance is expected at $1.0720. Support is expected at $1.03.30.
Gas: 10,90 $
US Regierung reagiert und gibt Reserve notfalls frei !
Reuters
NYMEX oil falls as US says to use SPR if needed
Tuesday February 25, 11:21 am ET
NEW YORK, Feb 25 (Reuters) - NYMEX crude oil futures stumbled in late morning trading on Tuesday after U.S. Energy Secretary Spencer Abraham said the United States would act quickly to release oil from strategic reserves if necessary to offset any supply disruptions should war with Iraq erupt.
At 11:15 a.m. EST (1615 GMT), NYMEX April crude (CLJ3) was down 28 cents at $36.20 a barrel. The contract traded as low as $35.98 following Abraham`s remarks. The high in earlier trade was $37.10.
The contract gained earlier due to soaring heating oil and natural gas futures amid more arctic weather in the United States and as saber-rattling on Iraq continued.
The most recent high for NYMEX crude was $37.55, struck on Thursday, just below the $37.80 high of September 2000.
NYMEX crude`s all-time high is $41.15, hit on Oct. 10, 1990, after Iraq invaded Kuwait in August of that year.
In London, April Brent crude (LCOJ3) also gave ground and was trading 20 cents lower at $32.95 a barrel. moving with NYMEX crude.
Abraham said on Tuesday the United States was ready to act quickly to release emergency oil reserves if necessary to offset any disruption to Middle East supplies in the event of war with Iraq.
But he said that any release would only be made in consultation with our U.S. partners in the International Energy Agency.
The IEA, the Paris-based energy watchdog for industrialized countries, said earlier that the strategic reserves of its members will only be used as a last resort should war break out in Iraq and producers fail to take up any supply shortfall.
On Monday, the United States, Britain and Spain submitted a draft resolution to a polarized U.N. Security Council that said Baghdad had missed a "final opportunity" to disarm peacefully and avoid war.
Iraqi President Saddam Hussein`s top scientific advisor, General Amer al-Saadi, said on Tuesday Baghdad was still considering a U.N. order to begin destroying its illicit al-Samoud missiles by March 1.
A flurry of diplomatic activity on Tuesday will see German Foreign Minister Joschka Fischer, a strong opponent to the war, meeting British Foreign Secretary Jack Straw and Prime Minister Tony Blair in London.
In Ankara, the Turkish government on Tuesday formally asked its parliament to vote on U.S. troop deployment, a key to U.S. war planning.
Meanwhile, traders anticipate that government weekly oil inventory data to be released on Wednesday morning will show U.S. distillate stocks, including heating oil, shrank again as a massive snowstorm buried the U.S. Northeast last week.
In a Reuters survey, six analysts forecast an average distillate draw of 2.6 million barrels in the week to Feb. 21. The average forecast for crude stocks was for a modest build of 1.0 million barrels, helped by increased imports.
NYMEX March heating oil (HOH3) traded 0.42 cent lower at $1.1425 a gallon, as early profit-taking trimmed big gains from overnight trading. It had ended overnight up 3.33 cents at $1.18 a gallon, an overnight and all-time high.
But with frigid temperatures in the U.S. Northeast and the prospect of snow in the region by Thursday, traders expect heating oil to come back up after nervous selling abates.
NYMEX March gasoline (HUH3) traded 2.05 cents lower at $1.0270 a gallon, trading between $1.024 and $1.064.
Gasoline`s most recent high is $1.0720, hit on Feb. 10 and the highest since the all-time high of $1.175 in May 2001.
In overnight ACCESS trading, NYMEX Henry Hub natural gas futures hit $11.899, a new all-time high. The March contract, due to expire on Wednesday, finished ACCESS trading at $10.90 per million British thermal units (mmBtu), eclipsing the $10.10 previous high for U.S. gas hit in late December 2000.
In midday trade, March natural gas traded at $9.25 per mmBtu, up 11.3 cents.
Reuters
NYMEX oil falls as US says to use SPR if needed
Tuesday February 25, 11:21 am ET
NEW YORK, Feb 25 (Reuters) - NYMEX crude oil futures stumbled in late morning trading on Tuesday after U.S. Energy Secretary Spencer Abraham said the United States would act quickly to release oil from strategic reserves if necessary to offset any supply disruptions should war with Iraq erupt.
At 11:15 a.m. EST (1615 GMT), NYMEX April crude (CLJ3) was down 28 cents at $36.20 a barrel. The contract traded as low as $35.98 following Abraham`s remarks. The high in earlier trade was $37.10.
The contract gained earlier due to soaring heating oil and natural gas futures amid more arctic weather in the United States and as saber-rattling on Iraq continued.
The most recent high for NYMEX crude was $37.55, struck on Thursday, just below the $37.80 high of September 2000.
NYMEX crude`s all-time high is $41.15, hit on Oct. 10, 1990, after Iraq invaded Kuwait in August of that year.
In London, April Brent crude (LCOJ3) also gave ground and was trading 20 cents lower at $32.95 a barrel. moving with NYMEX crude.
Abraham said on Tuesday the United States was ready to act quickly to release emergency oil reserves if necessary to offset any disruption to Middle East supplies in the event of war with Iraq.
But he said that any release would only be made in consultation with our U.S. partners in the International Energy Agency.
The IEA, the Paris-based energy watchdog for industrialized countries, said earlier that the strategic reserves of its members will only be used as a last resort should war break out in Iraq and producers fail to take up any supply shortfall.
On Monday, the United States, Britain and Spain submitted a draft resolution to a polarized U.N. Security Council that said Baghdad had missed a "final opportunity" to disarm peacefully and avoid war.
Iraqi President Saddam Hussein`s top scientific advisor, General Amer al-Saadi, said on Tuesday Baghdad was still considering a U.N. order to begin destroying its illicit al-Samoud missiles by March 1.
A flurry of diplomatic activity on Tuesday will see German Foreign Minister Joschka Fischer, a strong opponent to the war, meeting British Foreign Secretary Jack Straw and Prime Minister Tony Blair in London.
In Ankara, the Turkish government on Tuesday formally asked its parliament to vote on U.S. troop deployment, a key to U.S. war planning.
Meanwhile, traders anticipate that government weekly oil inventory data to be released on Wednesday morning will show U.S. distillate stocks, including heating oil, shrank again as a massive snowstorm buried the U.S. Northeast last week.
In a Reuters survey, six analysts forecast an average distillate draw of 2.6 million barrels in the week to Feb. 21. The average forecast for crude stocks was for a modest build of 1.0 million barrels, helped by increased imports.
NYMEX March heating oil (HOH3) traded 0.42 cent lower at $1.1425 a gallon, as early profit-taking trimmed big gains from overnight trading. It had ended overnight up 3.33 cents at $1.18 a gallon, an overnight and all-time high.
But with frigid temperatures in the U.S. Northeast and the prospect of snow in the region by Thursday, traders expect heating oil to come back up after nervous selling abates.
NYMEX March gasoline (HUH3) traded 2.05 cents lower at $1.0270 a gallon, trading between $1.024 and $1.064.
Gasoline`s most recent high is $1.0720, hit on Feb. 10 and the highest since the all-time high of $1.175 in May 2001.
In overnight ACCESS trading, NYMEX Henry Hub natural gas futures hit $11.899, a new all-time high. The March contract, due to expire on Wednesday, finished ACCESS trading at $10.90 per million British thermal units (mmBtu), eclipsing the $10.10 previous high for U.S. gas hit in late December 2000.
In midday trade, March natural gas traded at $9.25 per mmBtu, up 11.3 cents.
GUT ! Der ZORN gegen OELMANN BUSH und seine Mafia wächst in den USA !
Consumers Blame Bush, Oil Companies for High Gas Prices
Robert B. Bluey
Staff Writer
(CNSNews.com) - The price of oil rose again Tuesday as gasoline prices edged toward an all-time record, leaving customers concerned about what might happen in the coming months if the United States engages in a war with Iraq.
"I don`t remember it ever being this high," 68-year-old Rob Dixon said as a friend pumped gas for his minivan at a Hess station outside Washington, D.C. "And I don`t think bombing Iraq is going to make it any better."
The gas station was charging $1.67 per gallon - five cents lower than an Exxon station across the street. But both were higher than the national average of $1.66 per gallon, which is creeping closer to the record of $1.71 per gallon set in May 2001.
Lisa Danzler, who commutes 64 miles to and from work each day, said gas has become so expensive for her sport utility vehicle (SUV) that she is considering buying a smaller car just to drive to work. She fills her SUV three times a week, usually for about $30 each time.
"For regular gas, I`m expecting it to hit $2 at any time," she said. "If you watch the gas, it fluctuates each day by two or three pennies. Definitely by the middle of the summer, we`re going to be at $2."
President Bush took the brunt of the criticism for the high cost of gas - mostly because of the impending war with Iraq - but some consumers said oil companies were mostly to blame.
Jim Gibson, filling up his SUV Tuesday afternoon, was glad to see that some members of Congress have questioned the high cost of gasoline, which he called price gouging.
"Oil firms are in business to make money, and these guys are opportunists, so if you get a public scare, they could react by raising the price, and people would think it`s OK," Gibson said. "But they`ve gone a little too far in this case."
Gibson`s family has three cars, and although he was driving his SUV Tuesday, he said they have made it a priority to carpool or use the vehicle that gets the best gas mileage when taking trips.
While other consumers echoed Gibson`s concerns about price gouging, a representative with the American Petroleum Institute denied such allegations, noting that the price of oil depends mostly on market factors.
"We have been investigated many, many times over the course of many years by state and federal governments, and never once has there been any sort of evidence to show that the industry has done anything untoward," spokesman Chris Kelley said.
He also noted that the Federal Trade Commission has kept a close eye on the oil industry the past few months, and so far, no wrongdoing has been detected.
Kelley said what the price of gasoline would be this summer is unpredictable - with or without an Iraqi war. The cost consumers pay at the pump is often determined by the price of crude oil, he added.
Crude oil prices have risen to more than $36 per barrel, up from the mid-$20s last year. According to the Competitive Enterprise Institute, for each dollar increase of crude oil, the price of gas jumps about 2.5 cents.
For William Pannell, who commutes 20 miles from his Maryland home to his job at Reagan National Airport each day, finding affordable gas has become a challenge.
"I shop for gas now. I don`t just stop at any gas station. I go to whoever has the best prices," said Pannell, who also fears what the future might hold for filling up his SUV. "If we do go to war, I could see these prices just skyrocketing. But let`s hope we don`t go to war."
If consumers find themselves paying too much for gas, they might choose to get rid of their gas-guzzling SUVs in favor of smaller cars or hybrid vehicles, said Allen Mattison, spokesman for the Sierra Club.
"We`re already seeing a dramatic increase in people buying fuel-efficient vehicles," he said. "People care about saving money. When you get 50 miles per gallon, you`re going to be filling up your gas tank half as often as you would if you got 25 miles per gallon. That`s common sense - it means you save twice as much money."
Wenn die Gasrechnung kommt !
Consumers Blame Bush, Oil Companies for High Gas Prices
Robert B. Bluey
Staff Writer
(CNSNews.com) - The price of oil rose again Tuesday as gasoline prices edged toward an all-time record, leaving customers concerned about what might happen in the coming months if the United States engages in a war with Iraq.
"I don`t remember it ever being this high," 68-year-old Rob Dixon said as a friend pumped gas for his minivan at a Hess station outside Washington, D.C. "And I don`t think bombing Iraq is going to make it any better."
The gas station was charging $1.67 per gallon - five cents lower than an Exxon station across the street. But both were higher than the national average of $1.66 per gallon, which is creeping closer to the record of $1.71 per gallon set in May 2001.
Lisa Danzler, who commutes 64 miles to and from work each day, said gas has become so expensive for her sport utility vehicle (SUV) that she is considering buying a smaller car just to drive to work. She fills her SUV three times a week, usually for about $30 each time.
"For regular gas, I`m expecting it to hit $2 at any time," she said. "If you watch the gas, it fluctuates each day by two or three pennies. Definitely by the middle of the summer, we`re going to be at $2."
President Bush took the brunt of the criticism for the high cost of gas - mostly because of the impending war with Iraq - but some consumers said oil companies were mostly to blame.
Jim Gibson, filling up his SUV Tuesday afternoon, was glad to see that some members of Congress have questioned the high cost of gasoline, which he called price gouging.
"Oil firms are in business to make money, and these guys are opportunists, so if you get a public scare, they could react by raising the price, and people would think it`s OK," Gibson said. "But they`ve gone a little too far in this case."
Gibson`s family has three cars, and although he was driving his SUV Tuesday, he said they have made it a priority to carpool or use the vehicle that gets the best gas mileage when taking trips.
While other consumers echoed Gibson`s concerns about price gouging, a representative with the American Petroleum Institute denied such allegations, noting that the price of oil depends mostly on market factors.
"We have been investigated many, many times over the course of many years by state and federal governments, and never once has there been any sort of evidence to show that the industry has done anything untoward," spokesman Chris Kelley said.
He also noted that the Federal Trade Commission has kept a close eye on the oil industry the past few months, and so far, no wrongdoing has been detected.
Kelley said what the price of gasoline would be this summer is unpredictable - with or without an Iraqi war. The cost consumers pay at the pump is often determined by the price of crude oil, he added.
Crude oil prices have risen to more than $36 per barrel, up from the mid-$20s last year. According to the Competitive Enterprise Institute, for each dollar increase of crude oil, the price of gas jumps about 2.5 cents.
For William Pannell, who commutes 20 miles from his Maryland home to his job at Reagan National Airport each day, finding affordable gas has become a challenge.
"I shop for gas now. I don`t just stop at any gas station. I go to whoever has the best prices," said Pannell, who also fears what the future might hold for filling up his SUV. "If we do go to war, I could see these prices just skyrocketing. But let`s hope we don`t go to war."
If consumers find themselves paying too much for gas, they might choose to get rid of their gas-guzzling SUVs in favor of smaller cars or hybrid vehicles, said Allen Mattison, spokesman for the Sierra Club.
"We`re already seeing a dramatic increase in people buying fuel-efficient vehicles," he said. "People care about saving money. When you get 50 miles per gallon, you`re going to be filling up your gas tank half as often as you would if you got 25 miles per gallon. That`s common sense - it means you save twice as much money."
Wenn die Gasrechnung kommt !
Das war die Vorhersage
Natural Gas: The spot price of natural gas at the Henry Hub briefly closed above $6.00 per million btu during the third week of January as Artic weather covered much of the nation. Prices again topped $6 on February 4 , 5, and 6 in response to another blast of cold weather. These prices have generally been well over $5.00 per million btu thus far this year (Figure 9), as cold weather during the last several months drained underground storage levels at a much faster rate than was previously anticipated.
The winter thus far has been considerably colder than last year and colder than normal in the Northeast. As the cold weather continued through the first month of this year, downward pressure continued on natural gas storage. By the end of the January, working gas in storage was about 35 percent lower than at the end of January 2002 and 17 percent below the previous 5-year average. Considering not only the currently high world oil prices but also the low storage levels, natural gas prices are likely to remain relatively high through February and perhaps well into spring.
Assuming normal weather for the remainder of the heating season (February and March), we project that natural gas wellhead prices this winter (October through March) will average over $4.15 per thousand cubic feet, or about $1.75 per thousand cubic feet (67 percent) above last winter’s price. In 2003, wellhead prices are projected to show an increase of over $1.30 per thousand cubic feet over the annual 2002 average, boosting the price for the year to $4.36 per thousand cubic feet. This projection is based on the expectation of lower volumes of underground gas in storage for all of next year compared with this year and continued increases in demand (particularly in the first quarter) over 2002 levels. In 2004, continued tightness of domestic natural gas supply is expected to keep the average wellhead price near the 2003 level.
http://www.eia.doe.gov/emeu/steo/pub/contents.html
Natural Gas: The spot price of natural gas at the Henry Hub briefly closed above $6.00 per million btu during the third week of January as Artic weather covered much of the nation. Prices again topped $6 on February 4 , 5, and 6 in response to another blast of cold weather. These prices have generally been well over $5.00 per million btu thus far this year (Figure 9), as cold weather during the last several months drained underground storage levels at a much faster rate than was previously anticipated.
The winter thus far has been considerably colder than last year and colder than normal in the Northeast. As the cold weather continued through the first month of this year, downward pressure continued on natural gas storage. By the end of the January, working gas in storage was about 35 percent lower than at the end of January 2002 and 17 percent below the previous 5-year average. Considering not only the currently high world oil prices but also the low storage levels, natural gas prices are likely to remain relatively high through February and perhaps well into spring.
Assuming normal weather for the remainder of the heating season (February and March), we project that natural gas wellhead prices this winter (October through March) will average over $4.15 per thousand cubic feet, or about $1.75 per thousand cubic feet (67 percent) above last winter’s price. In 2003, wellhead prices are projected to show an increase of over $1.30 per thousand cubic feet over the annual 2002 average, boosting the price for the year to $4.36 per thousand cubic feet. This projection is based on the expectation of lower volumes of underground gas in storage for all of next year compared with this year and continued increases in demand (particularly in the first quarter) over 2002 levels. In 2004, continued tightness of domestic natural gas supply is expected to keep the average wellhead price near the 2003 level.
http://www.eia.doe.gov/emeu/steo/pub/contents.html
Thanks Goldmist !
Natural Gas: The Five Stages to Market Panic
by Ilan Goldman
Oil Crisis News from Around the World
•• Aug. 10, 2000 •• SolarQuest® iNet News Service •• (This report by Charles T. Maxwell, Senior Energy Analyst (maxwell@weedenco.com) was posted by Ilan Goldman.)
The low natural gas reinjection numbers we have seen so far this spring in the US tell their own tale. We are not on our way to putting three trillion cubic feet of gas, or anything like it, into storage for use next winter. From a low of one trillion cubic feet (and nearly 50 % of that is facility and line "fill", i.e., is not usable), we would be fortunate now to bring stored supplies up to 2.3 Tcf by early next November, the start of the gas consuming season. Given the presumed retreat of the La Niña weather pattern, the strong US economy, and the substantial number of new natural-gas-fueled base-load generating plants using combined-cycle technology coming on stream over the next six months, I have had to revise my estimate for peak gas storage down a bit from the 2.5 Tcf number I was using two months ago.
In practical terms, unless the coming winter approaches the highly-unusual, +13% warmer-than usual season we have just passed through, US gas storage numbers are accumulating in a potentially disastrous pattern of insufficient gas to take this country through the full span of cold weather to April of 2001. There is the possibility that we will be forced to allocate gas supplies to private homes, government departments and public institutions, to defense installations and to schools, universities, hospitals, and so on. To the degree that is necessary, gas will have to be allocated away from manufacturing industry.
Hit hardest, in such a period, would be sectors of the economy that use a high proportion of natural gas in their fuel mix such as cement plants, glass works, heat-treating and metal-shaping plants, heavy chemicals, steel, copper and aluminum makers, and so on. Subsequently, problems of insufficient production of component parts and intermediate materials could quickly spread to car and aircraft manufacturers, commercial construction and machine assembly industries. In short, the use of natural gas is so widespread in our manufacturing system that shortages of it for, say, a two month period from late January of 2001 to late March would wreak havoc on many areas of our economy.
It would surely slow national GDP growth, and heavily penalize the profits of many industrial firms. However, all this is theoretical. It really couldn’t turn out this way, could it? Yes, it could. And, unless the trends I see in place now of close to 3% incremental natural gas consumption in the US vs. flat or slightly down natural gas production are reversed for some reason I cannot now perceive, the "disaster scenario" outlined above must be considered the most likely one.
Perhaps the most intriguing part of the emerging outlook for a shortfall in gas supplies is not the fact that the crisis has arrived (after all it has been predicted for years, and, up to now, nothing serious has occurred), but rather the point that we are advancing deeper and deeper into this energy problem and no one, other than a few Wall Street analysts, are making any warning noises about it. The media is quiet.
It is either non-believing or unimpressed by the dimensions of what is visible. Government, at all levels, is complacent. There are no public outcries even from executive figures in gas consuming industries that are heavily dependent on the fuel. We are becalmed in a sea of silence on this issue as we pass into summer. The weather is fair, and the "livin’ is easy". And, when winter comes? It’s just another season, following summer. Nothing to worry about.
However, a few important people in the system quite plainly see the outlines of what is to come. Their traders are bidding up the price of natural gas dramatically (now 100% higher than the last year’s $2.10 per mm btu price at this season) in order to secure supplies for storage now - supplies that may not be available next February when many industries could be facing downtime. These gas buyers are doing their homework. And, it is their lead that investors should be following.
Still, I am ahead of the story in my surprise that the media has not yet picked up on the coming crisis. For over the years (and I have a good many of them), it has been my experience that there is a repetitive cycle to how these "threats" to the system are understood and acted on by different parts of our society.
In the case of the emerging shortage of natural gas, to take the example before us, the first group to identify it was the industry specialists (apart from many natural gas production company managers who had spotted it years in advance), in particular a small group of Wall Street analysts who were doing their weekly storage sums and saw that behind the façade of last winter’s warmth was a highly worrisome picture of an industry failing to convert its greater effort to find supplies (some 650 rigs drilling for gas this year vs. some 380 drilling for gas last year at the same time) into rising output figures. Across the board, analysts in the oil and gas industry are now convinced there is a substantial problem ahead.
This is Stage One, and it is nearly completed.
Stage Two is the tricky one. Analysts must convince their portfolio people that the problem is real, and direct them to what areas of the market to buy and what to avoid to maximize investment returns. But, portfolio managers are resistant to these arguments (they have heard them before) . So, only a few comprehend and accept the fundamental story, then take action. But, those brave souls start building upward momentum into the limited group of gas producing stocks that can be bought in size by the institutions (APC-53, BR-45, UCL-38, APA-60, DVN-60, and EOG-32, in order of descending capitalization) . Then, that section of institutional portfolio managers which cannot yet grasp the play itself but which is attuned to moving into stock groups with rising upward momentum in the market (for whatever reason), can be expected to swing onto the story. In this case, the natural gas producing group has recently come up on everyone’s charts as being in the lift-off stage.
Finally, the remaining portfolio managers, still not convinced, are forced to act in order to maintain their performance rankings, and they belatedly enter the game.
We are better than halfway through Stage Two now, as I make it out. The fundamental players are "in", and the momentum players are starting to react. But, as to a general capitulation of portfolio managers to the natural gas shortage concept, that will be reserved for quarter-ending rallies in June and September yet to come, if I am reading the tea leaves correctly.
As I have previously noted, the media have not yet focused on this problem. That will be Stage Three.
There is a substantial story to tell here. Outages in industrial plants across (mainly) the Midwest and Northeast, with tens of thousands of workers staying home, is a major development. When TV reporters, newspapers and magazines eventually pick up the trend, perhaps several months will have passed and the situation may well be seen as more grave. Having professionally worked through the period of Energy Crisis I and II, it would not surprise me if the media termed the new "threat" as Energy Crisis III.
However, I don’t think that this natural gas problem will have the public impact of the first two crises. Lack of gasoline (read mobility) and long waiting lines to obtain it may be more effective in influencing the American psyche than 100 industrial plants being shut down. However, Energy Crisis III is a convenient name, and at least it has the advantage of catching people’s attention. Stage Three is a big step in the development of a crisis mentality in the market for gas-related stocks. But, we are not yet into this stage.
On the basis of widespread (future) media attention, Stage Four would involve governmental reaction to this, on all levels. By late summer and early autumn, we will be into the late days of the Clinton Administration’s time in office. It certainly could be a political problem to admit that something this important had been allowed to develop, unbeknown to all, into a significant threat to the system.
On the other hand, the issue cannot be easily swept under the carpet because its effects are too close to breaking through into public consciousness. Moreover, the Gore-Bush pre-election debates should be in full swing by then, and Bush would be well guided to raise points, such as this, in which he has had some practical experience and for which no anticipatory consideration has been made in the non-existent national energy plan that President Clinton never formulated (nor did any other previous US president). As I see it, the Government will be forced to confirm the size and scope of the gas problem, and will further alarm industry by referring to the possibility of gas allocation on a national, state or local level.
Stage Four could well occur in September and October of this year. Its outcome would logically lead to Stage Five, the final rush to panic and overexposure. This would be the result of heightened media attention, followed by effective governmental confirmation that the problem was real and might not be easily fixed except through significant sacrifices on the part of the public. Stage Five would represent a general recognition that we could be entering a difficult period of fuel shortages and that the effects might be more serious than mere "inconvenience". It should be noted that under any allocation formula, those organizations and industries that could switch from natural gas to propane, butane, heating oil or residual fuel oil would be asked to do so. And, subsequently, these products might themselves run short under the impact of unexpectedly high demand. They might also advance dramatically in price.
Stage Five would also imply a highly visible case for investing in companies that might be best positioned to assist in solving the natural gas shortage. The final run of small investors’ funds into the natural gas producers might represent a "tsunami" of money seeking entry to a play already suffering from limited capitalization, thus forcing gas producer share prices into the "blue yonder".
Stage Five, perhaps occurring in mid-to-late autumn, would, of course, be immediately followed by the actual onset of cold weather. By then, investors would also have full knowledge of the country’s three-quarter-filled gas storage position. Early outages might start to occur, for coincidental reasons, in late January of 2001. However, the main weight of the shortfall would be expected to fall when different major storage points in various consuming regions of the country ran out of supplies in February and March of next year. That is when companies, facing closedowns for lack of fuel, should be most pressured to bid for gas to avoid the termination of output and temporary disbandment of their labor forces. So, we have assumed a peak to natural gas prices in February of 2001, probably in the $6.00 - 7.00 per mm btu range following a prolonged period of cold weather.
This could be the high point of fear, when many businesses could be driven to uneconomic decisions just to survive.This would logically be the exit point for experienced investors. With all five stages of the play completed, and the axe of cold weather fallen, this would be the time to collect your chips and leave the game. Conditions will likely not be so desperate or so uncertain again for some time, experience teaches us. Of course, the natural gas problem itself will not suddenly go away. It will take many seasons to find an answer to it. But, we will solve the problem, as we always do. And, as we move through the crisis and consider our options, all kinds of answers will present themselves. Meanwhile, the stock prices of natural gas producers would be expected to start down as early desperation gave way to later resolution.
Wieder Aktuell !
by Ilan Goldman
Oil Crisis News from Around the World
•• Aug. 10, 2000 •• SolarQuest® iNet News Service •• (This report by Charles T. Maxwell, Senior Energy Analyst (maxwell@weedenco.com) was posted by Ilan Goldman.)
The low natural gas reinjection numbers we have seen so far this spring in the US tell their own tale. We are not on our way to putting three trillion cubic feet of gas, or anything like it, into storage for use next winter. From a low of one trillion cubic feet (and nearly 50 % of that is facility and line "fill", i.e., is not usable), we would be fortunate now to bring stored supplies up to 2.3 Tcf by early next November, the start of the gas consuming season. Given the presumed retreat of the La Niña weather pattern, the strong US economy, and the substantial number of new natural-gas-fueled base-load generating plants using combined-cycle technology coming on stream over the next six months, I have had to revise my estimate for peak gas storage down a bit from the 2.5 Tcf number I was using two months ago.
In practical terms, unless the coming winter approaches the highly-unusual, +13% warmer-than usual season we have just passed through, US gas storage numbers are accumulating in a potentially disastrous pattern of insufficient gas to take this country through the full span of cold weather to April of 2001. There is the possibility that we will be forced to allocate gas supplies to private homes, government departments and public institutions, to defense installations and to schools, universities, hospitals, and so on. To the degree that is necessary, gas will have to be allocated away from manufacturing industry.
Hit hardest, in such a period, would be sectors of the economy that use a high proportion of natural gas in their fuel mix such as cement plants, glass works, heat-treating and metal-shaping plants, heavy chemicals, steel, copper and aluminum makers, and so on. Subsequently, problems of insufficient production of component parts and intermediate materials could quickly spread to car and aircraft manufacturers, commercial construction and machine assembly industries. In short, the use of natural gas is so widespread in our manufacturing system that shortages of it for, say, a two month period from late January of 2001 to late March would wreak havoc on many areas of our economy.
It would surely slow national GDP growth, and heavily penalize the profits of many industrial firms. However, all this is theoretical. It really couldn’t turn out this way, could it? Yes, it could. And, unless the trends I see in place now of close to 3% incremental natural gas consumption in the US vs. flat or slightly down natural gas production are reversed for some reason I cannot now perceive, the "disaster scenario" outlined above must be considered the most likely one.
Perhaps the most intriguing part of the emerging outlook for a shortfall in gas supplies is not the fact that the crisis has arrived (after all it has been predicted for years, and, up to now, nothing serious has occurred), but rather the point that we are advancing deeper and deeper into this energy problem and no one, other than a few Wall Street analysts, are making any warning noises about it. The media is quiet.
It is either non-believing or unimpressed by the dimensions of what is visible. Government, at all levels, is complacent. There are no public outcries even from executive figures in gas consuming industries that are heavily dependent on the fuel. We are becalmed in a sea of silence on this issue as we pass into summer. The weather is fair, and the "livin’ is easy". And, when winter comes? It’s just another season, following summer. Nothing to worry about.
However, a few important people in the system quite plainly see the outlines of what is to come. Their traders are bidding up the price of natural gas dramatically (now 100% higher than the last year’s $2.10 per mm btu price at this season) in order to secure supplies for storage now - supplies that may not be available next February when many industries could be facing downtime. These gas buyers are doing their homework. And, it is their lead that investors should be following.
Still, I am ahead of the story in my surprise that the media has not yet picked up on the coming crisis. For over the years (and I have a good many of them), it has been my experience that there is a repetitive cycle to how these "threats" to the system are understood and acted on by different parts of our society.
In the case of the emerging shortage of natural gas, to take the example before us, the first group to identify it was the industry specialists (apart from many natural gas production company managers who had spotted it years in advance), in particular a small group of Wall Street analysts who were doing their weekly storage sums and saw that behind the façade of last winter’s warmth was a highly worrisome picture of an industry failing to convert its greater effort to find supplies (some 650 rigs drilling for gas this year vs. some 380 drilling for gas last year at the same time) into rising output figures. Across the board, analysts in the oil and gas industry are now convinced there is a substantial problem ahead.
This is Stage One, and it is nearly completed.
Stage Two is the tricky one. Analysts must convince their portfolio people that the problem is real, and direct them to what areas of the market to buy and what to avoid to maximize investment returns. But, portfolio managers are resistant to these arguments (they have heard them before) . So, only a few comprehend and accept the fundamental story, then take action. But, those brave souls start building upward momentum into the limited group of gas producing stocks that can be bought in size by the institutions (APC-53, BR-45, UCL-38, APA-60, DVN-60, and EOG-32, in order of descending capitalization) . Then, that section of institutional portfolio managers which cannot yet grasp the play itself but which is attuned to moving into stock groups with rising upward momentum in the market (for whatever reason), can be expected to swing onto the story. In this case, the natural gas producing group has recently come up on everyone’s charts as being in the lift-off stage.
Finally, the remaining portfolio managers, still not convinced, are forced to act in order to maintain their performance rankings, and they belatedly enter the game.
We are better than halfway through Stage Two now, as I make it out. The fundamental players are "in", and the momentum players are starting to react. But, as to a general capitulation of portfolio managers to the natural gas shortage concept, that will be reserved for quarter-ending rallies in June and September yet to come, if I am reading the tea leaves correctly.
As I have previously noted, the media have not yet focused on this problem. That will be Stage Three.
There is a substantial story to tell here. Outages in industrial plants across (mainly) the Midwest and Northeast, with tens of thousands of workers staying home, is a major development. When TV reporters, newspapers and magazines eventually pick up the trend, perhaps several months will have passed and the situation may well be seen as more grave. Having professionally worked through the period of Energy Crisis I and II, it would not surprise me if the media termed the new "threat" as Energy Crisis III.
However, I don’t think that this natural gas problem will have the public impact of the first two crises. Lack of gasoline (read mobility) and long waiting lines to obtain it may be more effective in influencing the American psyche than 100 industrial plants being shut down. However, Energy Crisis III is a convenient name, and at least it has the advantage of catching people’s attention. Stage Three is a big step in the development of a crisis mentality in the market for gas-related stocks. But, we are not yet into this stage.
On the basis of widespread (future) media attention, Stage Four would involve governmental reaction to this, on all levels. By late summer and early autumn, we will be into the late days of the Clinton Administration’s time in office. It certainly could be a political problem to admit that something this important had been allowed to develop, unbeknown to all, into a significant threat to the system.
On the other hand, the issue cannot be easily swept under the carpet because its effects are too close to breaking through into public consciousness. Moreover, the Gore-Bush pre-election debates should be in full swing by then, and Bush would be well guided to raise points, such as this, in which he has had some practical experience and for which no anticipatory consideration has been made in the non-existent national energy plan that President Clinton never formulated (nor did any other previous US president). As I see it, the Government will be forced to confirm the size and scope of the gas problem, and will further alarm industry by referring to the possibility of gas allocation on a national, state or local level.
Stage Four could well occur in September and October of this year. Its outcome would logically lead to Stage Five, the final rush to panic and overexposure. This would be the result of heightened media attention, followed by effective governmental confirmation that the problem was real and might not be easily fixed except through significant sacrifices on the part of the public. Stage Five would represent a general recognition that we could be entering a difficult period of fuel shortages and that the effects might be more serious than mere "inconvenience". It should be noted that under any allocation formula, those organizations and industries that could switch from natural gas to propane, butane, heating oil or residual fuel oil would be asked to do so. And, subsequently, these products might themselves run short under the impact of unexpectedly high demand. They might also advance dramatically in price.
Stage Five would also imply a highly visible case for investing in companies that might be best positioned to assist in solving the natural gas shortage. The final run of small investors’ funds into the natural gas producers might represent a "tsunami" of money seeking entry to a play already suffering from limited capitalization, thus forcing gas producer share prices into the "blue yonder".
Stage Five, perhaps occurring in mid-to-late autumn, would, of course, be immediately followed by the actual onset of cold weather. By then, investors would also have full knowledge of the country’s three-quarter-filled gas storage position. Early outages might start to occur, for coincidental reasons, in late January of 2001. However, the main weight of the shortfall would be expected to fall when different major storage points in various consuming regions of the country ran out of supplies in February and March of next year. That is when companies, facing closedowns for lack of fuel, should be most pressured to bid for gas to avoid the termination of output and temporary disbandment of their labor forces. So, we have assumed a peak to natural gas prices in February of 2001, probably in the $6.00 - 7.00 per mm btu range following a prolonged period of cold weather.
This could be the high point of fear, when many businesses could be driven to uneconomic decisions just to survive.This would logically be the exit point for experienced investors. With all five stages of the play completed, and the axe of cold weather fallen, this would be the time to collect your chips and leave the game. Conditions will likely not be so desperate or so uncertain again for some time, experience teaches us. Of course, the natural gas problem itself will not suddenly go away. It will take many seasons to find an answer to it. But, we will solve the problem, as we always do. And, as we move through the crisis and consider our options, all kinds of answers will present themselves. Meanwhile, the stock prices of natural gas producers would be expected to start down as early desperation gave way to later resolution.
Wieder Aktuell !
Reuters
U.S. distillate stocks burn down to near 3-year low on cold
Wednesday February 26, 11:31 am ET
U.S. OIL STOCKS ESTIMATES
(millions of barrels)
------ API ------ ------ EIA ------
Stocks Change Change Stocks Change Change
2/21/2003 from from 2/21/2003 from from
pvs wk yr-ago pvs wk yr-ago
CRUDE 271.3 3.0 -47.4 271.9 -1.0 -53.1
DISTILLATE 103.8 -3.2 -32.9 99.1 -4.5 -33.1
GASOLINE 209.9 -0.8 -6.2 208.1 -3.1 -11.1
HEATING OIL 40.6 -2.1 -15.8 36.1 -3.9 -17.4
RFG GASOLINE 38.2 0.8 -4.7 36.6 -0.3 -9.0
PRODUCT DEMAND 20.1 UNCH +3.7 pct
(4-week avg)
UTILIZATION 88.8 +1.0 -0.4 89.0 +0.2 -0.1
(pct)
NEW YORK, Feb 26 (Reuters) - Cold weather demand and flagging imports drove
down U.S. stocks of distillates, including heating oil, to a near three-year
low last week, a government report said on Wednesday.
Distillate stocks, which include heating oil, jet fuel and diesel, fell 4.5
million barrels last week to 99.1 million barrels, sliding under 100 million
barrels for the first time since May, 2000, according to the Energy Information
Administration (EIA), the statistics branch of the Energy Department.
"That`s a pretty good size draw in heating oil and that will give heating
oil futures another shot in the arm," said Jim Ritterbusch, president of
Ritterbusch & Associates.
Heating oil futures earlier this week hit an all time high at $1.18 on the
New York Mercantile exchange on concern over low supplies. Prices have also hit
all-time highs for rival heating fuel natural gas.
The EIA said distillate demand over the last four weeks was up 20.9 percent
over the same time last year, spurred by cold weather and a snow storm that
blanketed the U.S. Northeast -- the world`s largest heating oil market.
Demand has rocketed as the high natural gas prices forced some industrial
users to turn to distillate fuel to fire their plants.
Declines in imports of both low and high sulphur distillates and gasoline
steepened the stock draws. A 12-week oil strike in nearby Venezuela has slashed
its petroleum exports to the United States.
Overall gasoline stocks fell 3.1 million barrels to 208.1 million barrels,
as imports dropped 124,000 barrels to 614,000 barrels per day.
Industry group the American Petroleum Institute (News - Websites) showed weaker draws, with
gasoline falling 792,000 barrels and distillates falling 3.2 million barrels.
"Both sets of data look bullish," said Ritterbusch.
Crude oil stocks -- which are near their lowest level since 1975 -- fell 1
million barrels according to the EIA, compared to a more than 3 million barrel
build reported by the API.
The draws pushed April crude oil futures on the New York Mercantile
Exchange up nearly a dollar to above $37 per barrel on the draws. Crude prices
are near two-year highs on fears of war in Iraq.
Refinery utilization rose slightly last week to 89 percent of capacity but
several refinery outage at huge U.S. refineries prevented oil product stocks
from rebounding.
Last Friday, Exxon Mobil (NYSE:XOM - News) confirmed that units at
its 516,500 bpd refinery in Baytown, Texas, have undergone planned maintenance
since mid-February that should last until at least this Friday. And BP (London:BP.L - News)
shut its 100,000 bpd fluid catalytic cracker last week at it`s 420,000 bpd
Whiting, Indiana, refinery and traders expected it to be down for three weeks.
Also, a gasoline making unit and two alkylation units at ChevronTexaco`s
(NYSE:CVX - News) 100,000 bpd El Paso, Texas, refinery were shut for two to three weeks.
U.S. distillate stocks burn down to near 3-year low on cold
Wednesday February 26, 11:31 am ET
U.S. OIL STOCKS ESTIMATES
(millions of barrels)
------ API ------ ------ EIA ------
Stocks Change Change Stocks Change Change
2/21/2003 from from 2/21/2003 from from
pvs wk yr-ago pvs wk yr-ago
CRUDE 271.3 3.0 -47.4 271.9 -1.0 -53.1
DISTILLATE 103.8 -3.2 -32.9 99.1 -4.5 -33.1
GASOLINE 209.9 -0.8 -6.2 208.1 -3.1 -11.1
HEATING OIL 40.6 -2.1 -15.8 36.1 -3.9 -17.4
RFG GASOLINE 38.2 0.8 -4.7 36.6 -0.3 -9.0
PRODUCT DEMAND 20.1 UNCH +3.7 pct
(4-week avg)
UTILIZATION 88.8 +1.0 -0.4 89.0 +0.2 -0.1
(pct)
NEW YORK, Feb 26 (Reuters) - Cold weather demand and flagging imports drove
down U.S. stocks of distillates, including heating oil, to a near three-year
low last week, a government report said on Wednesday.
Distillate stocks, which include heating oil, jet fuel and diesel, fell 4.5
million barrels last week to 99.1 million barrels, sliding under 100 million
barrels for the first time since May, 2000, according to the Energy Information
Administration (EIA), the statistics branch of the Energy Department.
"That`s a pretty good size draw in heating oil and that will give heating
oil futures another shot in the arm," said Jim Ritterbusch, president of
Ritterbusch & Associates.
Heating oil futures earlier this week hit an all time high at $1.18 on the
New York Mercantile exchange on concern over low supplies. Prices have also hit
all-time highs for rival heating fuel natural gas.
The EIA said distillate demand over the last four weeks was up 20.9 percent
over the same time last year, spurred by cold weather and a snow storm that
blanketed the U.S. Northeast -- the world`s largest heating oil market.
Demand has rocketed as the high natural gas prices forced some industrial
users to turn to distillate fuel to fire their plants.
Declines in imports of both low and high sulphur distillates and gasoline
steepened the stock draws. A 12-week oil strike in nearby Venezuela has slashed
its petroleum exports to the United States.
Overall gasoline stocks fell 3.1 million barrels to 208.1 million barrels,
as imports dropped 124,000 barrels to 614,000 barrels per day.
Industry group the American Petroleum Institute (News - Websites) showed weaker draws, with
gasoline falling 792,000 barrels and distillates falling 3.2 million barrels.
"Both sets of data look bullish," said Ritterbusch.
Crude oil stocks -- which are near their lowest level since 1975 -- fell 1
million barrels according to the EIA, compared to a more than 3 million barrel
build reported by the API.
The draws pushed April crude oil futures on the New York Mercantile
Exchange up nearly a dollar to above $37 per barrel on the draws. Crude prices
are near two-year highs on fears of war in Iraq.
Refinery utilization rose slightly last week to 89 percent of capacity but
several refinery outage at huge U.S. refineries prevented oil product stocks
from rebounding.
Last Friday, Exxon Mobil (NYSE:XOM - News) confirmed that units at
its 516,500 bpd refinery in Baytown, Texas, have undergone planned maintenance
since mid-February that should last until at least this Friday. And BP (London:BP.L - News)
shut its 100,000 bpd fluid catalytic cracker last week at it`s 420,000 bpd
Whiting, Indiana, refinery and traders expected it to be down for three weeks.
Also, a gasoline making unit and two alkylation units at ChevronTexaco`s
(NYSE:CVX - News) 100,000 bpd El Paso, Texas, refinery were shut for two to three weeks.
Gab es da nicht einmal einen Film:
Wenn der Gasmann zweimal klingelt??
mfg
thefarmer
Wenn der Gasmann zweimal klingelt??
mfg
thefarmer
Wenn der Postmann zweimal klingelt 
War ne scharfe xxx Nummer drinn, soviel ich weiss 
spät 80er ?
War ne scharfe xxx Nummer drinn, soviel ich weiss
spät 80er ?
@m_b_s: Na, haste eigentlich kräftig in die wegen der Kältewelle in den USA in die höhe schnellenden kurzfristigen Futures in dieselben investiert?
Warum berichtest Du eigentlich nicht auch jetzt darüber, dass nach einem fulminanten Anstieg auf bis zu 12 Dollar dieser jetzt schon wieder bis auf 7 Dollar gefallen ist?
Ich find es amüsant, wenn hier Laien Panik machen wollen, weil mit einem Future gezockt wird.
Kleiner Tipp: Schau die mal den Spotpreis für Strom an, da gibt es noch viel verrücktere Preissprünge
(www.lpx.de).
Da bekam man vor nicht allzu langer Zeit sogar in Deutschland auch schon mal Strom geschenkt, während man kurz darauf mal wieder für eine Stunde lang über 1000 Euro für eine MWh bezahlen musste, während der Durchschnittspreis bei 24 Euro/MWh liegt.
Warum berichtest Du eigentlich nicht auch jetzt darüber, dass nach einem fulminanten Anstieg auf bis zu 12 Dollar dieser jetzt schon wieder bis auf 7 Dollar gefallen ist?
Ich find es amüsant, wenn hier Laien Panik machen wollen, weil mit einem Future gezockt wird.
Kleiner Tipp: Schau die mal den Spotpreis für Strom an, da gibt es noch viel verrücktere Preissprünge
(www.lpx.de).
Da bekam man vor nicht allzu langer Zeit sogar in Deutschland auch schon mal Strom geschenkt, während man kurz darauf mal wieder für eine Stunde lang über 1000 Euro für eine MWh bezahlen musste, während der Durchschnittspreis bei 24 Euro/MWh liegt.
Natürlich Gewinn mitnahmen !
Die Meldungen dazu findet man unter yahooo
Fundamental hat sich nichts geändert : Die sind trocken wie ein Brötchen die Amis
Die Meldungen dazu findet man unter yahooo
Fundamental hat sich nichts geändert : Die sind trocken wie ein Brötchen die Amis
PG&E Corporation Quick Quote: PCG 12.88 (-0.31)
Prices for Natural Gas Climb 40 Percent Nationwide; PG&E Urges Customers to Efficiently Use Natural Gas
2/27/03
SAN FRANCISCO, Feb 27, 2003 /PRNewswire-FirstCall via COMTEX/ --
With natural gas prices on the spot market shooting up nearly 40 percent around the nation in recent days, Pacific Gas and Electric Company is urging its customers to conserve natural gas use in order to prevent unexpectedly high bills at the end of March.
A variety of factors, including an extremely cold winter in the Midwest and East coupled with the threat of war in the Middle East, have pushed natural gas prices on the spot market up 40 percent over the past week. Despite this surge in prices nationwide, PG&E`s residential customers will only see their natural gas bills increase 10 percent in March.
Advance purchasing by Pacific Gas and Electric Company has kept natural gas prices for its residential customers lower than in many other parts of the country. The utility buys gas during the summer when prices are cheaper, and stores it underground until it is needed in the winter. Even with this protection from the recent massive price spikes, PG&E is urging its customers to conserve gas now and aggressively weatherize.
`Poorly maintained heating systems and uninsulated buildings are most wasteful when furnaces are running constantly because of very cold weather. The money is literally flowing out of your house in the form of wasted heat,` said Tom Bottorff, the utility`s vice president of customer service. `The best way to save money this winter is to keep your furnace in good condition, plug up leaks in your house and keep the thermostat at 68 degrees or lower.`
In an effort to help customers conserve energy while staying warm this winter, Pacific Gas and Electric Company has a list of simple weatherizing tips, they include:
-- Furnace Maintenance: Clean or replace your furnace filters monthly and have your complete system checked and serviced annually. -- Cracks around Doors: Many doorways have large gaps along the door frame and threshold. Install or replace weather stripping around the door and along the threshold. -- Fireplace: When the fireplace is not in use, close the damper. -- Thermostat: Install a programmable thermostat and keep it set at 68 degrees during the day and 55 degrees while you are away or sleeping (health permitting). Purchase a qualifying Energy Star thermostat and receive a $20 rebate. -- Gaps around Flues and Vents: Fireplace flues, kitchen and dryer vents are often poorly sealed where they pass through walls and ceilings. -- Holes around Pipes: Check all the pipes in your home, including those servicing the sink, bathtub, water heater and washing machine. -- Floors: Up to 25 percent of the energy spent heating your home is lost through raised floors. You can save a considerable amount of energy by insulating your floors to R-19. Tips for PG&E customers who need help managing energy bills: -- CARE: provides a 20 percent discount on gas and electricity for qualified, low-income customers, plus an exemption from the CPUC electric surcharges. -- Balanced Payment Plan: eliminate fluctuating energy costs during peak seasons by averaging bills over a 12 month period -- make household budgeting easier. -- Payment Arrangement: assistance with an outstanding balance. -- Medical Baseline: higher allocation of gas and electricity at baseline rates, plus an exemption from the CPUC electric surcharges. -- 1-800-PGE-5000: For more information on billing options.
PG&E is currently offering rebates on products to help customers manage their energy cost including Energy Star(R) qualifying programmable thermostats, natural gas furnaces, and ceiling and wall insulation.
The amount customers pay for natural gas reflects what PG&E pays for the gas from its suppliers in California, Canada and the Southwest. PG&E does not earn a profit on the cost of the gas commodity. The company passes the cost of buying the gas directly through to its gas customers.
Customers have a choice of gas suppliers. PG&E is the default supplier for residential and small commercial customers, but other options are available at www.pge.com/gaschoice .
PG&E serves approximately 3.9 million natural gas customers throughout its 70,000-square-mile service area in Central and Northern California.
For more energy saving tips, please visit our web site at www.pge.com/foryourhome or call the Smarter Energy Line at 1-800-933-9555. Small and Commercial Business customers please visit www.pge.com/foryourbusiness
SOURCE Pacific Gas and Electric Company
Oh Oh 8, 50 $
Prices for Natural Gas Climb 40 Percent Nationwide; PG&E Urges Customers to Efficiently Use Natural Gas
2/27/03
SAN FRANCISCO, Feb 27, 2003 /PRNewswire-FirstCall via COMTEX/ --
With natural gas prices on the spot market shooting up nearly 40 percent around the nation in recent days, Pacific Gas and Electric Company is urging its customers to conserve natural gas use in order to prevent unexpectedly high bills at the end of March.
A variety of factors, including an extremely cold winter in the Midwest and East coupled with the threat of war in the Middle East, have pushed natural gas prices on the spot market up 40 percent over the past week. Despite this surge in prices nationwide, PG&E`s residential customers will only see their natural gas bills increase 10 percent in March.
Advance purchasing by Pacific Gas and Electric Company has kept natural gas prices for its residential customers lower than in many other parts of the country. The utility buys gas during the summer when prices are cheaper, and stores it underground until it is needed in the winter. Even with this protection from the recent massive price spikes, PG&E is urging its customers to conserve gas now and aggressively weatherize.
`Poorly maintained heating systems and uninsulated buildings are most wasteful when furnaces are running constantly because of very cold weather. The money is literally flowing out of your house in the form of wasted heat,` said Tom Bottorff, the utility`s vice president of customer service. `The best way to save money this winter is to keep your furnace in good condition, plug up leaks in your house and keep the thermostat at 68 degrees or lower.`
In an effort to help customers conserve energy while staying warm this winter, Pacific Gas and Electric Company has a list of simple weatherizing tips, they include:
-- Furnace Maintenance: Clean or replace your furnace filters monthly and have your complete system checked and serviced annually. -- Cracks around Doors: Many doorways have large gaps along the door frame and threshold. Install or replace weather stripping around the door and along the threshold. -- Fireplace: When the fireplace is not in use, close the damper. -- Thermostat: Install a programmable thermostat and keep it set at 68 degrees during the day and 55 degrees while you are away or sleeping (health permitting). Purchase a qualifying Energy Star thermostat and receive a $20 rebate. -- Gaps around Flues and Vents: Fireplace flues, kitchen and dryer vents are often poorly sealed where they pass through walls and ceilings. -- Holes around Pipes: Check all the pipes in your home, including those servicing the sink, bathtub, water heater and washing machine. -- Floors: Up to 25 percent of the energy spent heating your home is lost through raised floors. You can save a considerable amount of energy by insulating your floors to R-19. Tips for PG&E customers who need help managing energy bills: -- CARE: provides a 20 percent discount on gas and electricity for qualified, low-income customers, plus an exemption from the CPUC electric surcharges. -- Balanced Payment Plan: eliminate fluctuating energy costs during peak seasons by averaging bills over a 12 month period -- make household budgeting easier. -- Payment Arrangement: assistance with an outstanding balance. -- Medical Baseline: higher allocation of gas and electricity at baseline rates, plus an exemption from the CPUC electric surcharges. -- 1-800-PGE-5000: For more information on billing options.
PG&E is currently offering rebates on products to help customers manage their energy cost including Energy Star(R) qualifying programmable thermostats, natural gas furnaces, and ceiling and wall insulation.
The amount customers pay for natural gas reflects what PG&E pays for the gas from its suppliers in California, Canada and the Southwest. PG&E does not earn a profit on the cost of the gas commodity. The company passes the cost of buying the gas directly through to its gas customers.
Customers have a choice of gas suppliers. PG&E is the default supplier for residential and small commercial customers, but other options are available at www.pge.com/gaschoice .
PG&E serves approximately 3.9 million natural gas customers throughout its 70,000-square-mile service area in Central and Northern California.
For more energy saving tips, please visit our web site at www.pge.com/foryourhome or call the Smarter Energy Line at 1-800-933-9555. Small and Commercial Business customers please visit www.pge.com/foryourbusiness
SOURCE Pacific Gas and Electric Company
Oh Oh 8, 50 $
Hmm, mittlerweile ist also der Gaspreis wieder auf ca. 5 Euro gesunken. Mein Beileid allen Zockern, die da glaubten, an der Panik noch Geld verdienen zu koennen.
Auch der Oelfuture ist uebrigens heute regelrecht eingebrochen.
Auch der Oelfuture ist uebrigens heute regelrecht eingebrochen.
Mon 1:22pm ET - Reuters
As the United States prepares to lead a possible attack on Iraq, the chairman of the U.S. House Energy and Commerce Committee said Monday the Energy Department told him the Strategic Petroleum Reserve is ready to release oil to counter a disruption in crude supplies, if necessary.
@33
Die pfeifen auf dem letzten Loch !
As the United States prepares to lead a possible attack on Iraq, the chairman of the U.S. House Energy and Commerce Committee said Monday the Energy Department told him the Strategic Petroleum Reserve is ready to release oil to counter a disruption in crude supplies, if necessary.
@33
Die pfeifen auf dem letzten Loch !
Reuters
Greenspan Ditches `Green` for Natural Gas
Thursday July 10, 12:18 pm ET
By Chris Baltimore
WASHINGTON (Reuters) - Federal Reserve Chairman Alan Greenspan on Thursday said growing U.S. demand for natural gas to fuel factories and electricity plants may outweigh environmentalists` desire to preserve wilderness areas that contain energy reserves.
A sharp rise in natural gas prices and an unusually low stockpile of the fuel has grabbed the attention of the Bush administration and lawmakers. As a result, Greenspan -- whose appearances on Capitol Hill usually feature discussion of broad economic trends -- was asked to testify at the Senate Energy Committee on the impact of high gas prices.
The Senate will resume debate on a broad energy bill later this month. The Bush administration and many Republicans want to allow drilling on more federal land in the Rocky Mountains, while Democrats and environmental groups support energy conservation and renewable fuels.
Commenting on the growing need for natural gas and the resulting environmental concerns, Greenspan said: "We`ve got to make those trade-offs. They are very difficult."
"It is essential that one recognizes what the cost in energy policy is if you restrict the access to certain areas" that contain natural gas reserves, he said.
Natural gas prices in the wholesale spot market recently doubled from a year ago, rising to about $6 per million British thermal units (Btu). A cold winter drained inventories to a record low earlier this year, but the stockpile has steadily grown during the past month and is now only about 15 percent below normal.
The U.S. Energy Information Administration earlier this week noted the rise in stocks and forecast prices of $4.80-$5.10 per million Btu for the rest of 2003.
On Wednesday, congressional sources said House Speaker Dennis Hastert will appoint a panel of 18 lawmakers to recommend legislation needed to boost natural gas production.
As a backup for domestic production, Greenspan also called for a "major expansion" of facilities to import liquefied natural gas (LNG).
LNG is natural gas cooled to minus 259 degrees Fahrenheit, a process which converts it to liquid form for shipment. After shipping, it is converted back into gaseous form and moved into pipelines to users like industrial plants and utilities.
"I would much prefer that we met domestic consumption with effectively North American production," Greenspan said. However, more LNG import terminals should be built as a back-up to U.S., Canadian and Mexican production, he said.
"LNG is the ultimate safety valve, even if we don`t use it," Greenspan said. "Without the flexibility such (LNG) facilities will impart, imbalances in supply and demand must inevitably engender price volatility."
Die Bush Mafia handelt nach altem Motto was interessiert uns die Umwelt wir brauchen OEL / GAS dafür opfern wir alles !
Greenspan Ditches `Green` for Natural Gas
Thursday July 10, 12:18 pm ET
By Chris Baltimore
WASHINGTON (Reuters) - Federal Reserve Chairman Alan Greenspan on Thursday said growing U.S. demand for natural gas to fuel factories and electricity plants may outweigh environmentalists` desire to preserve wilderness areas that contain energy reserves.
A sharp rise in natural gas prices and an unusually low stockpile of the fuel has grabbed the attention of the Bush administration and lawmakers. As a result, Greenspan -- whose appearances on Capitol Hill usually feature discussion of broad economic trends -- was asked to testify at the Senate Energy Committee on the impact of high gas prices.
The Senate will resume debate on a broad energy bill later this month. The Bush administration and many Republicans want to allow drilling on more federal land in the Rocky Mountains, while Democrats and environmental groups support energy conservation and renewable fuels.
Commenting on the growing need for natural gas and the resulting environmental concerns, Greenspan said: "We`ve got to make those trade-offs. They are very difficult."
"It is essential that one recognizes what the cost in energy policy is if you restrict the access to certain areas" that contain natural gas reserves, he said.
Natural gas prices in the wholesale spot market recently doubled from a year ago, rising to about $6 per million British thermal units (Btu). A cold winter drained inventories to a record low earlier this year, but the stockpile has steadily grown during the past month and is now only about 15 percent below normal.
The U.S. Energy Information Administration earlier this week noted the rise in stocks and forecast prices of $4.80-$5.10 per million Btu for the rest of 2003.
On Wednesday, congressional sources said House Speaker Dennis Hastert will appoint a panel of 18 lawmakers to recommend legislation needed to boost natural gas production.
As a backup for domestic production, Greenspan also called for a "major expansion" of facilities to import liquefied natural gas (LNG).
LNG is natural gas cooled to minus 259 degrees Fahrenheit, a process which converts it to liquid form for shipment. After shipping, it is converted back into gaseous form and moved into pipelines to users like industrial plants and utilities.
"I would much prefer that we met domestic consumption with effectively North American production," Greenspan said. However, more LNG import terminals should be built as a back-up to U.S., Canadian and Mexican production, he said.
"LNG is the ultimate safety valve, even if we don`t use it," Greenspan said. "Without the flexibility such (LNG) facilities will impart, imbalances in supply and demand must inevitably engender price volatility."
Die Bush Mafia handelt nach altem Motto was interessiert uns die Umwelt wir brauchen OEL / GAS dafür opfern wir alles !
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