Replies to post #53059 on Your Economy (No Politics) (YE1)

[Ace Hanlon]

Long-term I am bullish on natural gas.

But short-term is another matter.

Natural gas now has dropped below the $4.33 level that is considered by many to be the minimum price at which most gas drilling is profitable.

Excessive drilling is responsible for much of the collapse in NG prices. Drilling needs to be cut back for the industry to remain on a healthy footing. Pressure from environmentalists is another factor favoring cuts in drilling activity. The recent HBO documentary GASLAND was a real eye opener re: the destructive impact of excessive drilling activity on water supplies.