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NG is so plentiful right now I would

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DrHarleyboy Member Level  Tuesday, 05/21/19 03:38:19 PM
Re: Pandemonium75 post# 21598
Post # of 21682 
NG is so plentiful right now I would be short this all day; NG prices are near historic lows and our production capabilities are on increasing. Pennsylvania is currently only 2nd to Texas in production, NG prices will continue to trend lower.

At over 18 Bcf/d, Pennsylvania now yields over 20% of all U.S. gas, only behind Texas' 22 Bcf/d. In the 10 years since a shale revolution took flight in its Marcellus play, Pennsylvania's gas output has exploded 32-fold.

Over that time, Pennsylvania has been responsible for 6 Tcf of the entire nation's 11.6 Tcf of new gas supply. With so much gas being produced and transacted in the region, some have even suggested that Dominion South hub 40 miles northeast of Pittsburgh should become the new benchmark for U.S. gas prices, taking over for Henry Hub in Louisiana.


For its own part, with massive low cost local supply, Pennsylvania has been turning more to natural gas to meet energy demand.


https://www.forbes.com/sites/judeclemente/2019/03/21/pennsylvania-as-the-new-natural-gas-giant/#78a55ed1636c

“The truth is incontrovertible, malice may attack it, ignorance may deride it, but in the end; there it is.”


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