Whats Up is Gas Prices good for GEX41 - I think are fully diluted. Includes shares not out but authorized.
This is what Peter Mackenzie Brown of SH had to say:
"Riven by worries about a Constitutional crisis in the United States in the United States, North America's oil and gas indexes declined in the face of fundamentals that continue to astound.
Gas prices set new record highs today because of dramatically lower U.S. inventories. The American Gas Association yesterday released a report saying that in the previous week U.S. gas inventories had fallen by 146 billion cubic feet, or 5.5 percent, to 2.502 trillion cubic feet. This number shook up the market, which bid up natural gas prices on the New York Mercantile Exchange by nine per cent.
And in the Middle East, Iraqi dictator Saddam Hussein threatened to stop oil shipments if he did not get a $0.50 premium for each barrel of oil his country shipped through the U.N.-administered "oil for food" program. If he lives up to his threats, he could reduce global oil supplies by as much as three per cent. Any break in supplies would come when U.S. inventories are below normal, and efforts by Saudi Arabia to replace those supplies would take time. The prospect of an oil-price crisis is very real.