RE:Are shorts finally covering?
There has not been a lot of drilling in last ~8 months.
Just a thought.
-Asscociated natural gas produced from oil wells.
Crude oil production from low permeability, tight rock formations—Permian, Bakken, Eagle Ford, Niobrara, and Anadarko.
That is not there anymore.
-More people at home. Extra load electricy grid and use of more natural gas.
They still have heat or cool the empty buildings.
-Cold or Hot spots in North America. Heating / cooling loads.
-Transportation load. Conversion diesel to natural gas.
-Electricty. Conversion coal to natural gas.
That is just a start.
We have lots of natural gas.
It's cheap.
It's not as messy as crude.(Drilling)
I've never heard of a natural gas spill. (It will vent to atmosphere)
It will help clean up the environment.
Here is a link:
U.S Energy Information Adminstration.
https://www.eia.gov/todayinenergy/detail.php?id=41873
This is from 2018.
Question is how would chart it for 2021.
Projections anyone. Myself I don't know. Pandemic variable?
It would be nice to some input from all of you posters.
I set my position a while ago, before the pandemic. So, the month of March was test for all.
Stuck to the plan. Now I'm here.
GLE