Posts for Ticker ‘natural gas’

T. Boone Pickens Expects High Oil To Stay (CLNE)

Pickens_pic_2CNBC’s Maria Bartoromo interviewed oil magnate and billionaire T. Boone Pickens late this afternoon.  Pickens noted that there is likely to be a demand increase if oil goes under $100, bue he doesn’t expect it to go too far under that level.  Four dollar per gallon gas killed demand before.  As far as an energy policy, there has been no energy plan for 40 years and cheap oil discouraged the country from ever developing one.  Without a plan we’ll end up importing more oil. 

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Posted on: September 9, 2008 – 2:51 pm in Interview, Oil & Gas, , , , ,

Upping Natural Gas Output Just In Time For Lower Prices (NFX, APA, APC, CHK, DVN)

Exploration and production companies have been loading up on natural gas assets in the US for the past several years, and now it looks like that might not have been the best thing they could have done. Five years ago, natural gas prices were around their historical level relative to crude oil, about $1.00 for every $6.00 of the oil price. The ratio reflected the fact that a barrel of oil contains roughly six times more energy than a thousand cubic feet of natural gas. The most recent EIA natural gas report noted gas prices of $7.26/million BTUs, compared with crude oil prices of $18.90/million BTUs. So, what happened? And is it going to continue?

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Posted on: September 9, 2008 – 10:09 am in Oil & Gas, , , , , , , , , , ,