Ann: SM69E2 Well Logs and Post Hurricane Ida Production Update, page-78

chris6 >gas $5.5 seems like it wants to hit the $6 mark

OMG. He right. But why?

We are heading into northern hemisphere winter.
We have a drought in CA (*2) which results in much less hydro electric power and a need to burn gas to create electricity
The US stopped drilling fracking wells after oil hit minus something back in the first covid days.
Texas, just had a tropical storm hit. Bad for wind turbines? (*1)
The US has been exporting waste gas to other countries
Gas is hard to store, so if there is a deficit then the price will go up exponential as stores head to zero. (unlike liquids)
Biden is green, which means he is more inclined to ask opec+ to pump more(*3) than he is for the US to drill wells.
DUCs (Drilled but UnCompleted wells) are at an all time low (*4)

I know boys1 follows the options for gas and oil. I know OEL has a gas field ( lighting ). If he could give us an outlook, that would be great.

If the US is hit by a cold winter. It's a big if, i know. And every man and his dog switches on a cheap electric heater. We could see gas prices sky rocket, in a country that gets to print the global currency. Just when NSW accepts defeat with covid and can't even be bother to do a daily interview (*5). If the AU has the same proportion of cases that the UK has after freedom day, I fully expect the AU vs USD to be harmed. 40c anyone?

Please Send the bat signal to boys1. We need someone to throw cold water on this idea bubble and save ME from this exuberantism. Because quite frankly I can't think of a single reason for the price of gas to go down, in the country BYE is drilling in. And BYE just drilled a new well. Gas usually happens. Much like when I eat bate beans.

Oh and apparently Iron ore prices are plummeting (*6), that would be the thing keeping the AUD in play.

This infomerical has been brought to you by an alcohol fueled badger. Do not approach or talk to badgers!. Caution advised on obviously deluded view. All disclaimers!

Grin. Good luck all.

(*1) https://www.cbsnews.com/live-updates/tropical-storm-nicholas-hurricane-gulf-coast/
(*2) https://benitolink.com/commentary-california-drought-update/
(*3) https://www.reuters.com/world/middle-east/us-call-opec-its-allies-increase-oil-production-cnbc-2021-08-11/
(*4) https://www.worldoil.com/news/2021/8/3/live-duc-count-hits-2013-low-as-the-us-continues-to-frac-more-than-it-drills
(*5) https://www.sbs.com.au/news/gladys-berejiklian-to-stop-giving-daily-nsw-covid-19-updates-ahead-of-predicted-peak/4dd07c9d-e9db-4a05-af83-50e422186ba2
(*6) https://markets.*.com/commodities/iron-ore-price