RE:RE:RE:very soon ac onWell, I guess you two could be right, if there wasn't so much alternative energy that was built over the last 8 years. These tend to produce electricity when it is hot and the sun is beating down.
Solar that's obvious and why more panels are directed towards the south west instead of the south. Wind is installed near coast lines and the winds tend to pick up in the afternoon when the land is hot and draws air in from the sea. These both coincide with the highest demand for A/C.
On the demand side of A/C, a lot of buildings make tons of ice every night in their systems and then use it or melt it to get the cooling source. The downtown core of Toronto pulls cold water from the depths of Lake Ontario a few miles offshore and use that instead of electrical driven A/C compressors.
The alternative energy story is going to prevent any recovery for summer nat gas power burn.
Also the Tesla Storage battery is also going to take a huge chunck out of peak demand periods over the next decade. It is already possible to convert your home today to be off grid with a Tesla lithium battery.
The rig count is irrelevant to the production, since in the old days wells were vertical and you had to drill many holes to tap a deposit. Now one rig can drill horizontal out in 360 degrees around the rig and fracking opening a lot of area with one rig. Also they purposely have been choking the flow of new wells for the last 4 years to prolong the well life. Companies have also been engaging in a well refracking program that revitalize wells for way cheaper than going and drilling new ones, these are maintenance rigs and do not get counted in the BH rig count.
BH rig count is irrelevant to the industry analysis as it is a tool that has become obsolete since nobody drills vertical any longer.
Less drilling does not mean less natural gas in my opinion.
NG probably going to $1.08.
The EIA storage report today had injections in the Pacific, and into Salt caverns in the south.
Injection season is started and there is only two slightly cooler than average periods in the forecast up to the end of April.