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GasBuddy News Article

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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.


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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
Hemond
Champion Author Providence

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Message Posted: Nov 18, 2012 11:35:34 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.
Radicalrose
Sophomore Author Modesto

Posts:137
Points:601,840
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Message Posted: Nov 18, 2012 11:16:23 AM

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

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Message Posted: Nov 18, 2012 8:32:50 AM

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

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Message Posted: Nov 16, 2012 9:44:16 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.
blupupher
Champion Author Houston

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Message Posted: Nov 16, 2012 9:21:46 AM

and this is a bad thing?
virostek
Veteran Author Virginia

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Message Posted: Nov 16, 2012 8:09:00 AM

interesting.
Hemond
Champion Author Providence

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Message Posted: Nov 16, 2012 6:22:44 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.
WalkingWV
Champion Author West Virginia

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Message Posted: Nov 16, 2012 2:00:21 AM

20 cent jump for gas today.
boatfloyd
Champion Author Jacksonville

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Message Posted: Nov 16, 2012 1:07:33 AM

Drill Baby Drill.
MadTraveler
Champion Author Idaho

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Message Posted: Nov 16, 2012 1:04:14 AM

No trust
rahcat
Champion Author Grand Rapids

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Message Posted: Nov 16, 2012 1:03:15 AM

Time will tell.
jcpatriots
Champion Author Massachusetts

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Message Posted: Nov 16, 2012 1:01:27 AM

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

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Message Posted: Nov 16, 2012 1:00:58 AM

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

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Message Posted: Nov 16, 2012 12:57:24 AM

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

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Message Posted: Nov 16, 2012 12:56:51 AM

good
nemoFL
Champion Author Florida

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Message Posted: Nov 16, 2012 12:56:21 AM

ok
THX138
Champion Author San Francisco

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Message Posted: Nov 16, 2012 12:55:47 AM

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

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Message Posted: Nov 16, 2012 12:54:45 AM

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

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Message Posted: Nov 16, 2012 12:53:59 AM

Right!
repeater1
Champion Author Topeka

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Message Posted: Nov 16, 2012 12:53:25 AM

Not surprising
Jmac2008
Champion Author Missouri

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Message Posted: Nov 16, 2012 12:53:22 AM

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

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Message Posted: Nov 16, 2012 12:53:18 AM

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

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Message Posted: Nov 16, 2012 12:48:01 AM

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.
nru
Champion Author Twin Cities

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Message Posted: Nov 16, 2012 12:46:22 AM

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

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Message Posted: Nov 16, 2012 12:40:29 AM

they control the price and production.
TheSnowstorm
Champion Author Montreal

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Message Posted: Nov 16, 2012 12:40:08 AM

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.
OldMoses
All-Star Author Atlanta

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Message Posted: Nov 16, 2012 12:37:53 AM

MORE "DOOM" PLEASE!
PetroCrap
Veteran Author Toronto

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Message Posted: Nov 16, 2012 12:37:40 AM

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??
SteveSeattle
All-Star Author Seattle

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Message Posted: Nov 16, 2012 12:36:58 AM

Prices will go up again soon...

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

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Message Posted: Nov 16, 2012 12:36:36 AM

Doomed?
gd83goldwinger
Champion Author South Bend

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Message Posted: Nov 16, 2012 12:36:06 AM

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

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Message Posted: Nov 16, 2012 12:34:28 AM

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

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Message Posted: Nov 16, 2012 12:30:37 AM

Wait and see.
bigdipperMS
Champion Author Mississippi

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Message Posted: Nov 16, 2012 12:30:33 AM

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.
Cashless
Champion Author Akron

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Message Posted: Nov 16, 2012 12:27:41 AM

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

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Message Posted: Nov 16, 2012 12:27:39 AM

Doomed? Wrong choice of words?
Azimuthal
Rookie Author Hamilton

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Message Posted: Nov 16, 2012 12:25:46 AM

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

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Message Posted: Nov 16, 2012 12:25:45 AM

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.
shari128
All-Star Author Iowa

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Message Posted: Nov 16, 2012 12:25:38 AM

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

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Message Posted: Nov 16, 2012 12:21:42 AM

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?
Gas4Gore
Champion Author Detroit

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Message Posted: Nov 16, 2012 12:15:50 AM

Oh no!
REKEY
Champion Author South Carolina

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Message Posted: Nov 16, 2012 12:15:17 AM

Why are prices rising here then?
wayoung56
Champion Author Alabama

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Message Posted: Nov 16, 2012 12:14:05 AM

Hmmmmm...
abcdMA
Champion Author Worcester

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Message Posted: Nov 16, 2012 12:12:00 AM

And due to the economy
WhiskersTheCat
Champion Author Austin

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Message Posted: Nov 16, 2012 12:11:44 AM

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.
regasaz
Champion Author Phoenix

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Message Posted: Nov 16, 2012 12:11:19 AM

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

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Message Posted: Nov 16, 2012 12:09:37 AM

TXGas Spy is correct: DOOMED!

for another 4 years
fieldt
Champion Author Lansing

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Message Posted: Nov 16, 2012 12:08:09 AM

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

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Message Posted: Nov 16, 2012 12:06:39 AM

Four more years!!!!
drz614
Champion Author Harrisburg

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Message Posted: Nov 16, 2012 12:03:20 AM

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

hope everyone is ready for 4 ugly years
30mpg80
Champion Author Lexington

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Message Posted: Nov 16, 2012 12:03:12 AM

Need more CNG vehicles and more natural gas power generation.
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