Not Logged In Log In   Sign Up   Points Leaders
Follow Us    2:32 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
Profile Pic
Hemond
Champion Author Providence

Posts:11,736
Points:171,225
Joined:Oct 2006
Message Posted: Nov 18, 2012 10:35:34 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.
Profile Pic
Radicalrose
Sophomore Author Modesto

Posts:136
Points:488,370
Joined:Apr 2011
Message Posted: Nov 18, 2012 10:16:23 AM

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

Posts:22,486
Points:2,119,890
Joined:Nov 2008
Message Posted: Nov 18, 2012 7:32:50 AM

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

Posts:156
Points:539,365
Joined:Aug 2011
Message Posted: Nov 16, 2012 8:44:16 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.
Profile Pic
blupupher
Champion Author Houston

Posts:5,879
Points:1,253,760
Joined:Feb 2011
Message Posted: Nov 16, 2012 8:21:46 AM

and this is a bad thing?
Profile Pic
virostek
Veteran Author Virginia

Posts:423
Points:90,285
Joined:Oct 2012
Message Posted: Nov 16, 2012 7:09:00 AM

interesting.
Profile Pic
Hemond
Champion Author Providence

Posts:11,736
Points:171,225
Joined:Oct 2006
Message Posted: Nov 16, 2012 5:22:44 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.
Profile Pic
WalkingWV
Champion Author West Virginia

Posts:3,867
Points:807,725
Joined:May 2008
Message Posted: Nov 16, 2012 1:00:21 AM

20 cent jump for gas today.
Profile Pic
boatfloyd
Champion Author Jacksonville

Posts:4,092
Points:897,615
Joined:Mar 2012
Message Posted: Nov 16, 2012 12:07:33 AM

Drill Baby Drill.
Profile Pic
MadTraveler
Champion Author Idaho

Posts:2,082
Points:575,400
Joined:Nov 2009
Message Posted: Nov 16, 2012 12:04:14 AM

No trust
Profile Pic
rahcat
Champion Author Grand Rapids

Posts:5,035
Points:1,172,975
Joined:Jan 2010
Message Posted: Nov 16, 2012 12:03:15 AM

Time will tell.
Profile Pic
jcpatriots
Champion Author Massachusetts

Posts:5,191
Points:1,048,180
Joined:Sep 2011
Message Posted: Nov 16, 2012 12:01:27 AM

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

Posts:2,589
Points:770,250
Joined:Mar 2011
Message Posted: Nov 16, 2012 12:00:58 AM

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

Posts:9,433
Points:2,152,110
Joined:Jan 2008
Message Posted: Nov 15, 2012 11:57:24 PM

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

Posts:2,340
Points:521,130
Joined:May 2011
Message Posted: Nov 15, 2012 11:56:51 PM

good
Profile Pic
nemoFL
Champion Author Florida

Posts:10,769
Points:2,049,860
Joined:Oct 2008
Message Posted: Nov 15, 2012 11:56:21 PM

ok
Profile Pic
THX138
Champion Author San Francisco

Posts:4,129
Points:1,488,040
Joined:Apr 2010
Message Posted: Nov 15, 2012 11:55:47 PM

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

Posts:5,070
Points:1,051,580
Joined:Nov 2005
Message Posted: Nov 15, 2012 11:54:45 PM

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

Posts:17,831
Points:3,400,255
Joined:Jul 2004
Message Posted: Nov 15, 2012 11:53:59 PM

Right!
Profile Pic
repeater1
Champion Author Topeka

Posts:10,604
Points:2,874,605
Joined:Oct 2005
Message Posted: Nov 15, 2012 11:53:25 PM

Not surprising
Profile Pic
Jmac2008
Champion Author Missouri

Posts:4,289
Points:1,348,770
Joined:Dec 2008
Message Posted: Nov 15, 2012 11:53:22 PM

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

Posts:5,695
Points:1,184,970
Joined:May 2011
Message Posted: Nov 15, 2012 11:53:18 PM

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

Posts:12,396
Points:2,123,025
Joined:Jan 2006
Message Posted: Nov 15, 2012 11:48:01 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.
Profile Pic
nru
Champion Author Twin Cities

Posts:5,319
Points:1,491,250
Joined:Feb 2006
Message Posted: Nov 15, 2012 11:46:22 PM

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

Posts:2,401
Points:1,729,660
Joined:Jun 2007
Message Posted: Nov 15, 2012 11:40:29 PM

they control the price and production.
Profile Pic
TheSnowstorm
Champion Author Montreal

Posts:9,664
Points:2,338,250
Joined:June 2005
Message Posted: Nov 15, 2012 11:40:08 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.
Profile Pic
OldMoses
All-Star Author Atlanta

Posts:841
Points:66,000
Joined:Sep 2008
Message Posted: Nov 15, 2012 11:37:53 PM

MORE "DOOM" PLEASE!
Profile Pic
PetroCrap
Veteran Author Toronto

Posts:260
Points:277,550
Joined:Mar 2004
Message Posted: Nov 15, 2012 11:37:40 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??
Profile Pic
SteveSeattle
All-Star Author Seattle

Posts:564
Points:184,060
Joined:Apr 2007
Message Posted: Nov 15, 2012 11:36:58 PM

Prices will go up again soon...

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

Posts:9,498
Points:2,463,875
Joined:Apr 2006
Message Posted: Nov 15, 2012 11:36:36 PM

Doomed?
Profile Pic
gd83goldwinger
Champion Author South Bend

Posts:2,584
Points:794,580
Joined:May 2011
Message Posted: Nov 15, 2012 11:36:06 PM

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

Posts:19,872
Points:3,988,180
Joined:Jul 2003
Message Posted: Nov 15, 2012 11:34:28 PM

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

Posts:3,588
Points:2,627,845
Joined:Mar 2006
Message Posted: Nov 15, 2012 11:30:37 PM

Wait and see.
Profile Pic
bigdipperMS
Champion Author Mississippi

Posts:2,486
Points:935,825
Joined:Apr 2011
Message Posted: Nov 15, 2012 11:30:33 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.
Profile Pic
Cashless
Champion Author Akron

Posts:5,873
Points:1,244,080
Joined:Apr 2011
Message Posted: Nov 15, 2012 11:27:41 PM

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

Posts:10,547
Points:2,206,360
Joined:Apr 2005
Message Posted: Nov 15, 2012 11:27:39 PM

Doomed? Wrong choice of words?
Profile Pic
Azimuthal
Rookie Author Hamilton

Posts:32
Points:128,530
Joined:Jan 2012
Message Posted: Nov 15, 2012 11:25:46 PM

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

Posts:6,863
Points:1,969,515
Joined:Sep 2005
Message Posted: Nov 15, 2012 11:25:45 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.
Profile Pic
shari128
All-Star Author Iowa

Posts:573
Points:894,640
Joined:Jun 2010
Message Posted: Nov 15, 2012 11:25:38 PM

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

Posts:653
Points:671,560
Joined:Feb 2012
Message Posted: Nov 15, 2012 11:21:42 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?
Profile Pic
Gas4Gore
Champion Author Detroit

Posts:3,370
Points:600,885
Joined:Jan 2010
Message Posted: Nov 15, 2012 11:15:50 PM

Oh no!
Profile Pic
REKEY
Champion Author South Carolina

Posts:10,869
Points:2,199,375
Joined:May 2008
Message Posted: Nov 15, 2012 11:15:17 PM

Why are prices rising here then?
Profile Pic
wayoung56
Champion Author Alabama

Posts:5,015
Points:1,312,110
Joined:Oct 2006
Message Posted: Nov 15, 2012 11:14:05 PM

Hmmmmm...
Profile Pic
abcdMA
Champion Author Worcester

Posts:10,217
Points:2,073,665
Joined:Nov 2008
Message Posted: Nov 15, 2012 11:12:00 PM

And due to the economy
Profile Pic
WhiskersTheCat
Champion Author Austin

Posts:1,234
Points:1,773,435
Joined:Oct 2008
Message Posted: Nov 15, 2012 11:11:44 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.
Profile Pic
regasaz
Champion Author Phoenix

Posts:6,796
Points:1,660,325
Joined:Dec 2006
Message Posted: Nov 15, 2012 11:11:19 PM

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

Posts:4,919
Points:1,693,410
Joined:Oct 2009
Message Posted: Nov 15, 2012 11:09:37 PM

TXGas Spy is correct: DOOMED!

for another 4 years
Profile Pic
fieldt
Champion Author Lansing

Posts:5,737
Points:1,217,060
Joined:Mar 2011
Message Posted: Nov 15, 2012 11:08:09 PM

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

Posts:10,165
Points:1,976,950
Joined:Sep 2008
Message Posted: Nov 15, 2012 11:06:39 PM

Four more years!!!!
Profile Pic
drz614
Champion Author Harrisburg

Posts:4,654
Points:1,108,315
Joined:Aug 2011
Message Posted: Nov 15, 2012 11:03:20 PM

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

hope everyone is ready for 4 ugly years
Post a reply Back to Topics