Chesapeake, Encana and ConocoPhillips shutting down wells, BHP halting expansion plans tells the story really. These companies are curbing production to intentionally get natural gas prices up. Less production = more demand. More demand = less supply and higher prices.
Today's price of natural gas is $2.48 and hit a high last night of $2.52. Some say this is just a rally but I firmly believe it is a recovery on the way to over $4.00 by end of the year.
China is still building 1 to 2 x 500MW coal fired plants every week.
