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Long term Gas prices will go up!

Posted by: Jjay on November 09, 2007 09:58AM

Short term gas prices have detached their historical tie with oil prices, but long term is still tied.(Short term price is what the media quotes).

Prices have been very volatile. There is more natural gas in storage than ever before, which has driven prices down. However, longer term prices have stayed high due to long term supply/demand fundamentals and the fact that low short term prices reduce drilling, aggravating supply constraints. One thing to keep in mind is that natural gas in Canada is priced in US dollars, so if the Canadian dollar goes down, long term gas prices will go up.

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