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Michael Fitzsimmons
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Michael Fitzsimmons focuses on investments in the oil & gas sector with an eye for dividend income and long-term capital appreciation. Fitzsimmons is an engineer, not a CFA. The information and data presented in his articles are obtained from company documents and/or sources believed to be... More
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  • Weekly Natural Gas Storage Report 0 comments
    Jun 4, 2009 11:26 AM

     

    The EIA's weekly natural gas storage report was released today:

    http://www.eia.doe.gov...

    Nat gas in storage continues to be above historical 5 year averages as increased shale supply meets falling industrial demand due to the economic contraction. Nat gas has certainly broken with its historical ratio with oil prices. Oil has increased over 50% since march to $66/barrel while natural gas remains under $4 and is currently trading at $3.69/TCF. meanwhile, residential customers are still paying around $12/TCF for natural gas which makes absolutely no sense whatsoever, despite last year's summer price spike. natural gas utility companies must be reaping some serious profits with such a massive spread between cost and sales. Regardless, oil and natural gas prices in the US continue to support a policy of natural gas transportation. I challenge Energy Secretary Chu to debate the matter in a public forum, and I am sure I could sufficiently embarass the Nobel Prize winner into accepting religion and changing his self described "agnostic" position on natural gas transportation.

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