Not Logged In Log In   Sign Up   Points Leaders
Follow Us    6:35 PM

GasBuddy News Article

38
votes
Gas Prices Doomed to Stay Low as Producers Pump Faster

Bloomberg -- Gas producers in North America including Chesapeake Energy Corp. (CHK) are killing their commodity’s biggest rally in 10 months by opening more wells, putting the U.S. on track to have record gas supplies this year.

After a 44 percent price rise beginning Sept. 10, the fuel began a slide Oct. 30, falling 9.2 percent by Nov. 12 as stockpiles swelled to an all-time high this month, valued at about $15 billion using the current spot price. Gas production in 2013 is expected to match this year’s record level, the U.S. Energy Information Administration forecast this month.

The rebound stalled as Chesapeake, the second-biggest U.S. producer, and rivals added output in areas such as the Marcellus Shale in Pennsylvania. ConocoPhillips and Encana Corp. (ECA) brought back curtailed output.


Read the Full Article

Submitted Nov 15, 2012 By: aservant
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Gas Prices Doomed to Stay Low as Producers Pump Faster Back to Topics
REPLIES (newest first) Post a Reply
Hemond
Champion Author Providence

Posts:12,665
Points:185,590
Joined:Oct 2006
Message Posted: Nov 18, 2012 7:35:34 AM

QUOTE :::Doesn't that imply that they would have to be already low? What planet is this author living on? Gas prices haven't been "low" for several years."""


The story is about natural gas not gasoline. Natural gas is indeed cheap. I heat my house for pocket change.
Radicalrose
Sophomore Author Modesto

Posts:137
Points:603,940
Joined:Apr 2011
Message Posted: Nov 18, 2012 7:16:23 AM

Central Valley Calif. JUMPED UP 20Cents.........over nite less than 12 hrs.......
honda0105
Champion Author Tallahassee

Posts:24,069
Points:2,390,890
Joined:Nov 2008
Message Posted: Nov 18, 2012 4:32:50 AM

wished the same was true for gasoline and especially diesel prices.
ateamfan42
Sophomore Author Maine

Posts:185
Points:628,795
Joined:Aug 2011
Message Posted: Nov 16, 2012 5:44:16 AM

"Doomed to Stay Low"

Doesn't that imply that they would have to be already low? What planet is this author living on? Gas prices haven't been "low" for several years.
blupupher
Champion Author Houston

Posts:6,769
Points:1,507,830
Joined:Feb 2011
Message Posted: Nov 16, 2012 5:21:46 AM

and this is a bad thing?
virostek
Veteran Author Virginia

Posts:423
Points:90,285
Joined:Oct 2012
Message Posted: Nov 16, 2012 4:09:00 AM

interesting.
Hemond
Champion Author Providence

Posts:12,665
Points:185,590
Joined:Oct 2006
Message Posted: Nov 16, 2012 2:22:44 AM

Last year I spent somewhere around $500 to $700 to heat my house, I would have spent $3000 on oil before switching to natural gas.
WalkingWV
Champion Author West Virginia

Posts:3,883
Points:809,450
Joined:May 2008
Message Posted: Nov 15, 2012 10:00:21 PM

20 cent jump for gas today.
boatfloyd
Champion Author Jacksonville

Posts:5,022
Points:1,168,390
Joined:Mar 2012
Message Posted: Nov 15, 2012 9:07:33 PM

Drill Baby Drill.
MadTraveler
Champion Author Idaho

Posts:2,082
Points:575,400
Joined:Nov 2009
Message Posted: Nov 15, 2012 9:04:14 PM

No trust
rahcat
Champion Author Grand Rapids

Posts:5,970
Points:1,443,975
Joined:Jan 2010
Message Posted: Nov 15, 2012 9:03:15 PM

Time will tell.
jcpatriots
Champion Author Massachusetts

Posts:5,791
Points:1,301,370
Joined:Sep 2011
Message Posted: Nov 15, 2012 9:01:27 PM

mstearno, give me a break...
stpatrickbday
Champion Author Albuquerque

Posts:2,589
Points:771,050
Joined:Mar 2011
Message Posted: Nov 15, 2012 9:00:58 PM

Just another excuse to raise gas prices.
mstearno
Champion Author Dayton

Posts:9,689
Points:2,358,560
Joined:Jan 2008
Message Posted: Nov 15, 2012 8:57:24 PM

OMG this is the new low??
just like unemployment under 10 % is good
thanks OBAMA
frostyWV
Champion Author West Virginia

Posts:2,340
Points:521,130
Joined:May 2011
Message Posted: Nov 15, 2012 8:56:51 PM

good
nemoFL
Champion Author Florida

Posts:10,824
Points:2,081,335
Joined:Oct 2008
Message Posted: Nov 15, 2012 8:56:21 PM

ok
THX138
Champion Author San Francisco

Posts:4,800
Points:1,747,220
Joined:Apr 2010
Message Posted: Nov 15, 2012 8:55:47 PM

Can you say $6 a gallon gas?
vibdata
Champion Author Massachusetts

Posts:5,136
Points:1,078,590
Joined:Nov 2005
Message Posted: Nov 15, 2012 8:54:45 PM

HUH? Try going to LI and tell this to someone. Hey are you related to that guy who tries to run NYC?
Dragnet
Champion Author Arizona

Posts:18,799
Points:3,661,455
Joined:Jul 2004
Message Posted: Nov 15, 2012 8:53:59 PM

Right!
repeater1
Champion Author Topeka

Posts:11,518
Points:3,145,360
Joined:Oct 2005
Message Posted: Nov 15, 2012 8:53:25 PM

Not surprising
Jmac2008
Champion Author Missouri

Posts:4,619
Points:1,488,945
Joined:Dec 2008
Message Posted: Nov 15, 2012 8:53:22 PM

and yet prices went up again on Monday
fenster66
Champion Author Pittsburgh

Posts:6,604
Points:1,454,570
Joined:May 2011
Message Posted: Nov 15, 2012 8:53:18 PM

I'm still waiting to see prices below $3 a gallon....
jrsva
Champion Author Virginia

Posts:13,355
Points:2,393,800
Joined:Jan 2006
Message Posted: Nov 15, 2012 8:48:01 PM

It seems that the majority of folks here misread “gas” to mean gasoline rather than natural gas, which is the subject of this article. And the word “doomed” was used because it was written from the perspective of the producers, who are damaging their profits by over producing. Read carefully before commenting.
nru
Champion Author Twin Cities

Posts:6,887
Points:1,762,250
Joined:Feb 2006
Message Posted: Nov 15, 2012 8:46:22 PM

Does the DeBeers corporation ring a bell?
ACTown
Champion Author Oregon

Posts:2,417
Points:1,902,455
Joined:Jun 2007
Message Posted: Nov 15, 2012 8:40:29 PM

they control the price and production.
TheSnowstorm
Champion Author Montreal

Posts:9,676
Points:2,560,640
Joined:June 2005
Message Posted: Nov 15, 2012 8:40:08 PM

Not here. We are in the process of spiking from $1.244/litre to an average of $1.424/lire, a jump of 18 cents/litre (or 68 cents/US gal). his is one of the highest jumps that the greater Montreal area has seen in a long time.
OldMoses
All-Star Author Atlanta

Posts:856
Points:67,750
Joined:Sep 2008
Message Posted: Nov 15, 2012 8:37:53 PM

MORE "DOOM" PLEASE!
PetroCrap
Veteran Author Toronto

Posts:266
Points:295,645
Joined:Mar 2004
Message Posted: Nov 15, 2012 8:37:40 PM

Whether it's Natural gas or not what I've noticed is that when you put these words, gas and low and price, together in a sentence, there's hardly a mention of Obama, but if one word was changed from low to high, well we all know whose fault it would be, but I guess he only has control of the price when it goes up right??
SteveSeattle
All-Star Author Seattle

Posts:565
Points:192,580
Joined:Apr 2007
Message Posted: Nov 15, 2012 8:36:58 PM

Prices will go up again soon...

Stop/reduce driving & take public transportation are the ways to beat high gasoline prices.
MG_Sputnik
Champion Author Philadelphia

Posts:10,338
Points:2,732,030
Joined:Apr 2006
Message Posted: Nov 15, 2012 8:36:36 PM

Doomed?
gd83goldwinger
Champion Author South Bend

Posts:2,584
Points:794,580
Joined:May 2011
Message Posted: Nov 15, 2012 8:36:06 PM

Where are these low gas prices. Few last week but then shot up 30 cents by friday last.
DEG
Champion Author Las Vegas

Posts:20,751
Points:4,246,155
Joined:Jul 2003
Message Posted: Nov 15, 2012 8:34:28 PM

Big Oil/Gas and Big Government will find ways to artificially reduce supply to jack up prices (especially with Obama's re-election).
sent4456
Champion Author Toronto

Posts:4,503
Points:2,893,155
Joined:Mar 2006
Message Posted: Nov 15, 2012 8:30:37 PM

Wait and see.
bigdipperMS
Champion Author Mississippi

Posts:2,764
Points:1,177,015
Joined:Apr 2011
Message Posted: Nov 15, 2012 8:30:33 PM

The solution to this is more and better utilization of natural gas. The most obvious is converting the transportation fleet to CNG engines as well as some personal autos and trucks. This would probably improve the price of natural gas and lower the price of gasoline (since demand for the one would go up and down for the second). But it is a pipe dream since this Administration will continue to throw every road block they can to stifle the use of hydrocarbons as fuel.
Cashless
Champion Author Akron

Posts:6,791
Points:1,515,040
Joined:Apr 2011
Message Posted: Nov 15, 2012 8:27:41 PM

Don't believe it people.
SavALot
Champion Author Virginia Beach

Posts:10,870
Points:2,449,910
Joined:Apr 2005
Message Posted: Nov 15, 2012 8:27:39 PM

Doomed? Wrong choice of words?
Azimuthal
Rookie Author Hamilton

Posts:32
Points:128,530
Joined:Jan 2012
Message Posted: Nov 15, 2012 8:25:46 PM

This analysis is one sided. Why are prices rising here then?
OGW
Champion Author London

Posts:7,135
Points:2,194,965
Joined:Sep 2005
Message Posted: Nov 15, 2012 8:25:45 PM

Not according to the so called experts as prices will rise over the winter due to shortages in production, probably fabricated to push up prices.
shari128
All-Star Author Iowa

Posts:573
Points:894,640
Joined:Jun 2010
Message Posted: Nov 15, 2012 8:25:38 PM

We need to see the prices fall again on gas!!
Mr_Bill_W
All-Star Author Virginia

Posts:670
Points:893,475
Joined:Feb 2012
Message Posted: Nov 15, 2012 8:21:42 PM

Wiskers are you trying to say that there are some participate in this forum who hale from the shallow end of the gene pool who are as result are not the shapes tools in the shade?
Gas4Gore
Champion Author Detroit

Posts:3,370
Points:600,885
Joined:Jan 2010
Message Posted: Nov 15, 2012 8:15:50 PM

Oh no!
REKEY
Champion Author South Carolina

Posts:11,787
Points:2,470,075
Joined:May 2008
Message Posted: Nov 15, 2012 8:15:17 PM

Why are prices rising here then?
wayoung56
Champion Author Alabama

Posts:5,916
Points:1,580,210
Joined:Oct 2006
Message Posted: Nov 15, 2012 8:14:05 PM

Hmmmmm...
abcdMA
Champion Author Worcester

Posts:11,127
Points:2,342,215
Joined:Nov 2008
Message Posted: Nov 15, 2012 8:12:00 PM

And due to the economy
WhiskersTheCat
Champion Author Austin

Posts:1,324
Points:2,017,560
Joined:Oct 2008
Message Posted: Nov 15, 2012 8:11:44 PM

It's interesting how most people on this board don't know the difference between gas (natural gas) and gas (gasoline that you put in your vehicle). Then they wonder why the article doesn't make sense.
regasaz
Champion Author Phoenix

Posts:7,711
Points:1,932,800
Joined:Dec 2006
Message Posted: Nov 15, 2012 8:11:19 PM

Quit reminding me of 4 more years of this Imposter.
LQQKGAS
Champion Author Phoenix

Posts:5,053
Points:1,805,465
Joined:Oct 2009
Message Posted: Nov 15, 2012 8:09:37 PM

TXGas Spy is correct: DOOMED!

for another 4 years
fieldt
Champion Author Lansing

Posts:6,605
Points:1,484,325
Joined:Mar 2011
Message Posted: Nov 15, 2012 8:08:09 PM

Doomed to stay low? Who writes this stuff?
TXGasPriceSpy
Champion Author Fort Worth

Posts:11,088
Points:2,244,500
Joined:Sep 2008
Message Posted: Nov 15, 2012 8:06:39 PM

Four more years!!!!
drz614
Champion Author Harrisburg

Posts:5,590
Points:1,378,315
Joined:Aug 2011
Message Posted: Nov 15, 2012 8:03:20 PM

preacherjohn: we are exporting our distillate. just wait will gas hits $6 a gallon.

hope everyone is ready for 4 ugly years
30mpg80
Champion Author Lexington

Posts:15,210
Points:2,268,595
Joined:Nov 2008
Message Posted: Nov 15, 2012 8:03:12 PM

Need more CNG vehicles and more natural gas power generation.
Post a reply Back to Topics