Assessing the Present: Missing Btu’s?

Two conflicting stories are emerging concerning recent natural gas market dynamics.

Analyze Storage Data

Relies heavily on estimates of supply and demand calculations

The gas market is witnessing massive demand destruction in the industrial sector -- as much as 4-6 bcf/d

Infer supply increasing

Poll Companies

Relies on personal relationships and statistical inferences

Industrial users are cutting back only modestly

Supply is not increasing

Critical Issues Largely Unaddressed



• Reduction in Gas Processing: More Btu’s, Same Bcf
• Are shocked consumers turning down the thermostat?
• Will prices be passed through by industry?
• What are the root causes of possible losses in industry?

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