gas is the new gold

Don't you just love it when you read something bullish!

ONLY six months ago, the International Energy Agency was warning that the world had a gas glut that would last until 2015.

Now the world's energy watchdog believes the oversupply has already begun to dissipate and may be gone well before 2015 if the world enters a "golden age for gas".

The price of gas is still languishing at $US1.50 to $US2.50 a million British thermal units, 20 per cent lower than the IEA's previous forecasts, but the agency estimates the price will jump to $US9 by 2015.

So we have a possible fourfold increase in the gas price over the next 4 years .. that's got to make our 30 day vwap plus 40% a shoein!