The article is 18 months old, it mentions fracking in NY state (not happening, not yet) and the author is probably messed up because he had morons for parents. Why would you name a child Dick Finger/Finger, Dick? Other than that, I guess making a wild call when gas was $3 is a good way to get attention. I don't see it, though, and the market doesn't either. You can buy gas 10 years out for sub $6.
EIA report out recently shows lower demand estimates..... and the market is already in a steep backwardation. It's made a heckuva run since November....with no significant pullbacks.
I currently have a measured move target around 7 bucks from an Inverse weekly HnS. I don't know what the funnymentals are , I know its cold outside, that's about it. Will it get there? who knows.
And what happened to the world is independent of middle east oil, and the world is flush with natural gas? I knew it was bull crap.
Are you of the crowd who in more recent times started saying this few words before finishing "As we become independent of middle east energy, ....". Who invented the content of the lead sentence?
No, I don't say that. We *could* become independent of Middle East oil via conservation and big lifestyle changes, but I doubt it's going to happen. However, as Maverick74 noted elsewhere, it's not like we're getting half our oil from the Middle East. Based on the table in the link... http://www.eia.gov/dnav/pet/pet_move_impcus_a2_nus_ep00_im0_mbblpd_m.htm ...we're getting about 20% and that can fluctuate based on mo-to-mo trade patterns. The $64,000 question is whether the life of a shale well is comparable to that of a conventional well. It's too soon to tell but all the 'moving toward North American energy independence' commentary will be wrong if they don't, with serious economic consequences for the U.S.