RE:RE:RE:RE:Bircliff Revenue Going ForwardVET certainly has a lot going for it with the current $39 mmbtu outside North America gas price.
A fair part of VET's France production is hedged at a much lower price I understand.
Something has got to give on the European price or North American price for gas.
Given the other uses for natural gas - fertilizers, synthetics, transportation... that some sort of convergence of the two prices should occur sometime down the road.
I have heard that some (or all?) gas fired plants can switch between natural gas and deisel/fuel oil
if gas gets too expensive. Some say that it could push demand for fuel oil up by 500,000 bbls/ day.
I would buy my own generator if I was there if the country did not subsidize the electricity price,
If the world is still somewhat the same come spring I would imagine a much higher N/A price and a more reasonable rest of world price.
G>L>