NATURAL GAS PRODUCTION DOWN, GAS STORAGE DOWN TOO

greenspun.com : LUSENET : TimeBomb 2000 (Y2000) : One Thread

See http://quote.bloomberg.com/news2.cgi?T=energy_refout.ht&s=77582105

Now the question is: How long has production been down and why?

-- slza (slzattas@erols.com), February 23, 2000

Answers

"I've heard some people say that expect less gas was taken out of storage than a year ago because the weather was warmer," said Chris Eades, an energy analyst at Warburg Dillion Read in new York. "That's ridiculous. Those people aren't taking into account that we can't produce as much gas as we did a year ago."

Huh? I don't know what the story is here - but it doesn't sound good. I know that there has been a shortages since about mid-January as several gas companies were scrambling to meet demand. Texas Gas has intermittently cut off a bunch of 'interruptable' customers throughout the south in order to meet demand in the Northeast. More than one gas utility had to allow pipeline pressures to drop below contract levels because demand was out-stripping supply. Texas Gas was issuing emergency notices on almost a daily basis at the end of January. So there definitely is a problem, but they are providing any details.

-- Y2kObserver (Y2kObserver@nowhere.com), February 23, 2000.


I should have said, they aren't providing any details.

-- Y2kObserver (Y2kObserver@nowhere.com), February 23, 2000.

Moderation questions? read the FAQ