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Thursday, March 14, 2019

Mind The Gap -- March 14, 2019

Updates

March 18, 2019: See first comment. Most of what I wrote this week was just a regurgitation of natural gas stats accessed through the natural gas storage report page. Key points were that this was the largest natural gas withdrawal on record for the month of March (but not by a lot; there was also a 198 bcf and a 192 bcf March draw in recent years) and that with our supplies now 359 billion cubic feet below where they were on the same date in 2018, we have to add an average of at least 10 billion cubic feet more natural gas to storage each week for the rest of this year than we did last year to avoid going into next winter in worse shape than we did this one...

April should afford us the opportunity to catch up, though, since last April was unusually cool. Anything close to normal temperatures, and injections should start April 1st.

More at this link.

Original Post 

Link here. In addition, we should see a nice in-depth analysis of this on Sunday, March 17, 2019.  Hey, isn't that St Patrick's Day? Sunday? Well, that's a bummer. Need to celebrate Saturday, starting about noon, I suppose.

Now, back to natural gas.

Comments later, but the current "gap" is the widest in recent memory.


4 comments:

  1. most of what i wrote this week was just a regurgitation of natural gas stats accessed through the natural gas storage report page...key points were that this was the largest natural gas withdrawal on record for the month of March (but not by a lot; there was also a 198 bcf and a 192 bcf March draw in recent years) and that with our supplies now 359 billion cubic feet below where they were on the same date in 2018, we have to add an average of at least 10 billion cubic feet more natural gas to storage each week for the rest of this year than we did last year to avoid going into next winter in worse shape than we did this one...

    April should afford us the opportunity to catch up, though, since last April was unusually cool (as you can see in the blue graph line above)....anything close to normal temperatures, and injections should start April 1st..

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    Replies
    1. Amazing what free market capitalism can accomplish.

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    2. i guess. i imagine a socialist government would mandate that domestic supplies be adequate before exports would be allowed...they'd probably fix the price of gas, too, since heating is a necessity....today, that price fix might not be high enough to encourage more supplies, but if the price had been set at what it was 20 years ago, we'd probably be overproducing today and there'd be plenty for exports...

      a dictatorship would solve all those problems, though...drillers would be directed to produce enough gas for both consumers and exports, and the price to consumers would be set lower than the price charged to foreigners...and anyone who disagrees with that order goes before a firing squad...

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    3. " ... goes before a firing squad ... or be sent to Venezuela." LOL.

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