United States Natural Gas Fund, LP (UNG)

All Comments on UNG

  • commenter
    Road Runner
    Sep 12 05:20 PM
    Political Energy Policy Just for Laughs [view article]
    You severely missed the mark on your analysis of alternate energy. It is not funding of R&D that is needed at this point. It is keeping the existing tax credits in place so solar and wind can reach economies of scale in production. No significant new technology is needed. Both of these energy sources are racing ahead now with continuous new innovations and price reductions. The tax credits speed that process because it increases the incentive and reduces the risk to commit capital.

    Also, you don’t understand the Fannie and Freddie situation. Though the taxpayer is currently bailing them out and it is a very large amount of money, it is a small amount of money compared to the economic benefit that those 2 have given to the US over the past several decades. Because they were implicitly backed by the federal government, they offered lower rate loans and higher risk products. The 30 year mortgage would not exist without these 2. Granted the companies were mismanaged lately under the eye (or lack of eye) of the Bush administration and Greenspan, but that doesn’t diminish what they added to the long term economy of the US.

    So what if the solar and wind tax credits are not perfect by some people’s estimate (it seems like yours). The overall benefit far surpasses that. That benefit being the acceleration into the future of alternate energy. It goes back to the old saying: “What would you rather have? One million dollars or a penny that doubles every day for a month?”
    Reply
  • commenter
    bowman711
    Sep 12 03:32 PM
    Commodities Meltdown as Dollar Surges [view article]
    OldLimey - point well taken. Actually, it would be in the best interests of both the U.S and China to carry out any mega-exit from dollars in an orderly manner. Reply
  • commenter
    Fred Banks
    Sep 12 01:56 PM
    More on Russian Gas [view article]
    adamnb, that 30 billion sounds right to me, although it could be closer to 40 billion Ostensibly it is headed toward Chicao, however there would likely be a few 'laterals' toward the larger Canadian cities on the way, and if it were started today they should have it finished by 2018 or therabouts - which is what you probably meant.

    Big Gas has called that concept "dumb", which is what I thought too for a while, but I'm not so sure now. There are some important economic problems to be solved before starting that project, and in the last analysis I think that Big Gas should have more to say about those then the Governor.     Reply
  • commenter
    OldLimey
    Sep 12 01:48 PM
    Commodities Meltdown as Dollar Surges [view article]
    bowman711: I think you're spot on with your first comment, but I'm not so sure about the second. Seems well possible that the Chinese, like most creditor nations, will continue diversifying their foreign holdings away from the USD. However, not only will they not want to do anything that risks permanently sinking the US consumer, they have a long-term target that requires them to build on the influence they already have over the viability of the US financial system: reabsorption of Taiwan. Reply
  • commenter
    kebu77
    Sep 12 01:48 PM
    My Website
    CIBC Analyst Cuts Price Targets on the TSX, Oil and Gas [view article]
    "The firm cut its 2008 target for average oil prices from $125 per barrel to $115 and from $150 to $130 in 2009."

    In spite of OPECs announced intent to reduce production, look for the Saudis to continue its high level of production thru the Nov. election, in its second attempt to decide a US presidential election. (The case can be made that KSA succeeded in 2004 when it produced way over quota beginning several months before the election and Bush won by a hair - - compare KSA actual production to quota, April-October 2004.) This time, they will fail due to the political fundementals (Google: lichtman + 13 keys). Even so, if I was Obama, I'd be pissed for the next 4 to 8 years.

    So Rubin may find, when the dust settles that the avg. oil price in '08 is closer to $100 than $115. Then, in 2009, geology oil fundementals replace the geopolitical issues and oil starts its march to the Maxwell-Pickens-Simmon... $200 level. Things happen, like KSA lets its wells rest, Iraq fails to settle down, the North Sea and Mexico continue their precipitous declines, the engineers running China continue their massive capital expansion, and 2009 marks the fourth straight year of declining oil exports (Google: "Jeffrey Brown" + "Export Land Model").

    I suspect there's tension within CIBC that will resolve itself early in 2009. More bullish views will return as it, again, separates itself from the herd.

    "Just my opinion, I could be wrong," but for starters watch the next eight weeks.
    Reply
  • commenter
    The FItzman
    Sep 12 01:06 PM
    My Website
    Political Energy Policy Just for Laughs [view article]
    The only solution to the massive oil induced energy crisis in the US is a strategic, long-term, comprehensive energy policy:

    thefitzman.blogspot.co...

    Failure to adopt something along these lines in the next year or so will be catastrophic to the US economy and our way of life as we enter an era of peak oil where worldwide oil supply will not keep pace with worldwide oil demand. For a country that imports 15 million barrels of foreign oil a day (and uses 21 million barrels), it should be obvious to any thinking human being what steps need to be taken, and taken very soon. The last 8 years have been a complete waste, and 2015 is d-day according to energy company CEO's. That is only 7 years away....     Reply
  • commenter
    User 30121
    Sep 12 01:04 PM
    Commodity Roundup: What To Be Bullish On Now [view article]
    OMG, don't let Gary North see your "manipulation&quo... comments on PMs. He will fly into a frenzy. Since there's no such thing going on. Yeah, right, Gary. Reply
  • commenter
    User 30121
    Sep 12 12:53 PM
    Commodities Meltdown as Dollar Surges [view article]
    Gold stars for bowman711 and Kelly Lieberman! Right on target! Reply
  • commenter
    Kelly
    Lieberman
    Sep 12 11:35 AM
    My Website
    Commodities Meltdown as Dollar Surges [view article]
    MSN reported yesterday that China is quietly buying gold. If that is true, and most of us believe that is the case, that the Chinese are "exchanging" dollars on a paper trail known only to a few in the know, than why worry about the temporary drop in commodities?

    When everyone else wakes up and realizes that they have been duped by our own government they will begin to dump the dollar and follow the Chinese... It is no less than criminal but what else is new?     Reply
  • commenter
    Econ 101
    Sep 12 11:33 AM
    Commodity Roundup: What To Be Bullish On Now [view article]
    Where does the Chinese shut down for the olympics fit in this ? The special olympics closes down this week and they should be restarting their factories. Wont that mean a run up in oil and other commodities?

    Cesato, I hope you are right and gold stays in the 650 to 750 range for a few months. I have money (well, dollars, they are sort of like money) locked up that I want to turn into gold.     Reply
  • commenter
    beabaggage
    Sep 12 09:26 AM
    Commodity Roundup: What To Be Bullish On Now [view article]
    everytime PAL is under 4 it has rewarded me. added more recently. they stuck GFI with the Finland mine, makes sense to me, own GFI too, they can tuck that asset away or develop it if Russian output dries up or becomes embargoed.
    read PAL Annual Report, good little company for sure. Also own SWC, ZINC,CDE, NXG. Love these little safe country gems.
    NXG just added MORE reserves in AUS, blah blah blah.
    Just a lot of shorting going on now, Gold is STILL around 750, Copper $3.15 or so. Indian and Chinese will add to their personal holdings as consumers who know the Dollar is becoming worthless with all the bailouts. BUY!     Reply
  • commenter
    bowman711
    Sep 12 09:20 AM
    Commodities Meltdown as Dollar Surges [view article]
    I should add that I think a more likely explaination of what is happening to commodities than trying to influence an election is this:

    As everyone knows, the Chinese (and others in a similar position) hold hundreds of billions of the U.S. debt. They also see what is happening in the 'credit crisis' and that the U.S. is facing it by printing untold more dollars, thus devaluing every dollar-denominated entity already held in by the Chinese. Not wanting to see further erosion of their wealth, they have let the Fed and the Bush government know that they want out of dollars.

    A sudden dumping of hundreds of billions of dollar debt would likely cause the end of the 'full faith & credit' in the U.S. dollar. [The Euro would likely take its place as the world currency.] So, to save the dollar, the Government might have made an agreement with the Chinese to supress commodities so the Chinese could exchange their dollar for commodities. The 2008 G8 Foreign Ministers Meeting was in late June, and it seems that the real attacks on commodities started a couple of weeks later. Coincidence? Maybe not.     Reply
  • commenter
    Rocknbob
    Sep 12 09:07 AM
    Commodities Meltdown as Dollar Surges [view article]
    to bowman 711: you make a lot of sense ; people get a false sense of security just before the election, benchmarks soar for a while, then a reversion to a sinking dollar and higher comm prices may take over , maybe even before years end... Reply
  • commenter
    paultaut
    Sep 12 08:58 AM
    Commodity Roundup: What To Be Bullish On Now [view article]
    Mines across the globe are shutting down their low grade facilities, those with operating earnings below production costs. Inventories will drop more quickly than most imagine.

    You have a long list, most can be summed up in one stock: AAUK.     Reply
  • commenter
    bowman711
    Sep 12 08:52 AM
    Commodities Meltdown as Dollar Surges [view article]
    As I was driving around today, I was thinking about all this 'Alice in Wonderland stuff,' this sudden seemingly inexplicable drops in commodity prices could be preparation for another FOMC rate cut. There are more and more signs of recession, which is toxic any time but especially before an election. But, the Fed can't lower interest rates at a time when everyone knows that inflation is eating away at their pocketbooks.

    So, this may be a coordinated attack on anything by which the value of the dollar is commonly compared with so the Fed can say that inflation is dead - or at least in check - so they can stimulate the slowing economy with another rate cut. Few think that the Fed would cut rates next Tuesday, but how about the October 28-29 meeting? A cut then would probably send the stock market soaring . . . just a week before the U.S. election.

    Just a thought.     Reply
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