Weekly Natural Gas Storage Report
Summary----
Working gas in storage was 3,152 Bcf as of Friday, August 7, 2009, according to EIA estimates. This represents a net increase of 63 Bcf from the previous week. Stocks were 592 Bcf higher than last year at this time and 517 Bcf above the 5-year average of 2,635 Bcf. In the East Region, stocks were 163 Bcf above the 5-year average following net injections of 56 Bcf. Stocks in the Producing Region were 279 Bcf above the 5-year average of 794 Bcf after a net injection of 5 Bcf. Stocks in the West Region were 75 Bcf above the 5-year average after a net addition of 2 Bcf. At 3,152 Bcf, total working gas is above the 5-year historical range.
Watch liquid petroleum follow. Home Heating Oil is next.
14 comments:
First thing I see going down the street is that gas (petrol) prices jumped up and are still going up. About the same prices as when crude was over $100 - now it's a lot less.
@ wagga, from behind the curtain your hear "err...um...refinery errr...um...supply dislocation"
I admit that I find prospects for a jump in fuel prices to be unlikely in the near future. Stockpiling in order to try and push prices higher can work in some cases, but the reality is that we're heading into the end of the summer driving season, which will inevitably put downward pressure on prices. Oil and natural gas aren't perfectly correlated, but they certainly influence each other.
If the market manipulators seriously think that they're going to push prices up through Sept and Oct, they may be in for an unpleasant surprise.
Interestingly, the very same chart eerily describes Casey's mental state accurately over the past few years.
All you have to do is replace the Y-axis with descriptors ranging from "severe depression" (bottom) to "wildly manic" (top). :-p
Interestingly, the very same chart eerily describes Casey's mental state accurately over the past few years.
It's to smooth. Casey's mental state is more of a step function.
Probably a thread hijack...
As some of you know, I run a nano-business providing management software for an extremely narrow vertical market. Just a few thousand potential clients around the world.
These businesses are truly in the leading indicator category.
So I was busted early, but am starting to see some healthy activity - even some clients terrified of losing/loosing technical support.
This is to say that there are now actual checks in the mail-box.
In the dark months, with little income, my credit card balance exploded. Over the limit. $7500.
I just got off the phone with a young lady, Jessica, from the Bank of America. I told her that I had billed enough to satisfy the entire amount, but would not be able to make a payment until next week. She offered to settle the account for $1500, with no additional black marks on my credit score.
What to do?.
Or what would kc do?.
^^take the $1500 offer and use the six grand you saved to short BAC.
Also a threadjack, but the ATU is threatening strike the BART on Sunday. Oh well, at least SF has a high Walkability Index (tm).
BTW, it was the the NYC local of the ATU that struck NYC's buses and subways between Xmas & New Year,2005.
$6000 would buy several really nice 30" monitors, and some seriously fast computers. But I would rather distribute the new income stream to the few who supported me in the bleak days.
Take the $1500 deal and move on with a clear conscience. As long as you have friends you won't need credit until long after any mark has faded.
Lex - BART doesn't really serve people moving around SF, it's a commuter system, bringing people in from out of the city. Not like the NY system at all (a closer analogy would by the NJ rail system coming in to Penn Station.
It'll just mean a mess on the roads for a few days until the union backs down. They don't have the support and management knows it.
PF --thank you for the correction.
I've worked through both subway and metronorth strikes in NYC and although they are not comparable in terms of total havoc, a commuter rail shutdown can have very damaging long-term effects. The 1980 metronorth strike was the impetus for many businesses and workers (including me) to move to the suburbs.
I'm not sure I see any justification for the BART model. I'm paraphrasing
but it seems something like; "Because you want to live further away and you
make more money and you have choices and won't put up with as much
inconvenience we believe it is the public interest to spend more on your
transit trips."
There's also the issues of cachement and disincentive. BART has all those
parking lots that lower its' cost per mile. AC suffers from roads
congestion that in no small measure is a deliberate policy that helps BART
in the comparison.
Lex, you were being subsidized to leave your jobs in the city. When the subsidy went away even briefly you sobered up enough to get off the public crack.
wagga, make the full payment. $6,000 is a lot of money, but you can't put a price on knowing that you are good for your money. The credit rating agencies won't know, but you will.
(Casey wouldn't take the $1500 settlement, but he would pretend he had, put the $6000 down as "profit", and "invest" the "proceeds" in GSPG.)
Geez Rob, give me a little credit. I always knew my commute, both rail and subway, were heavily subsidized -- and I make full use of that "public crack" whenever I can, considering it a small payback for the far greater amounts taken from me in time, tolls, and direct and excise taxes to pay for metronorth, the MTA, bike lanes, transit villages, and every other halfwit scheme of the public transportation lobby.
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