I got into natgas watching because of the Oklahoma earthquakes. Then, all the gas came from the NE and they used fresh water for fracking. When they injected this into the ground to get rid of the waste, they activated earthquakes. The earthquakes went up when the price of natgas went up. Now, it's all Texas, and they keep their earthquakes to themselves.
I'm not even looking today. The natgas storage report will be going straight to the bottom, and there may be no price change, because NASA has doubled down on a warm Feb. Why is nasa doing the weather? Because they have a total monopoly on their data interpretation, and they are the warmies supreme. I regularly wonder how cold it can get before they break. Most likely, never.
I am sorry for anybody who listened to me on the natgas prices. They lost their shirts. Every other year, the natgas traders have reacted to a bad storage report. Now, they ignore the cold outside their windows, and the fact that the storage is slurping. It will be warm any minute now, is their cry. I greatly underestimated their stupidity.
ps storage down, on a new slope. Business as usual.
ps I think they are happy the draw difference went from 300 something to 150 something, but this last week was warm, with those weird Pacific jets. This week will have the big Arctic blob.
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