Summary
Natural Gas ("NG") prices are down another 9.2%. This is the time - like the stock market at the trough - to invest in NG exploration and production to catch the uptick in demand and price within the next couple of years. The green Obama energy phantasy does not create sustainable jobs and does not make any real dent in the drive for energy independence. Just talk and no walk.
Analysis
All agree - Republicans included - that we should develop all possible energy avenues that lead to less dependence on foreign oil. However the green emphasis on so called renewable energy does not make any real dent on the energy demand of the country. We have to take major steps to develop and support our abundant NG resources and pioneering companies to replace coal power plants with NG fed plants, exhibiting 50% + less CO2 emissions. Congress has to see the full picture and get off the Pelosi, Feinstein, Boxer and Waxman yellow brick road to energy bankruptcy (like what this team has been responsible for in California, now a near bankrupt State). NG is essential for immediate CO2 reduction for power plants and for transportation as promoted by T. Boone Pickens. Of course SNG from coal with CCS needs support as well as IGCC + CCS, but will not make a dent in the near term energy picture. It is very disappointing that Congress presently does not support with tax credits and/or CO2 credits any NG exploration and wastes the small DOE budget on a multitude of ear mark favored pet projects without any real effect on energy independence. One has also to realize that the window for cheap LNG imports to our ten LNG terminals may close as soon as China gets in the act to outbid us on Australian, PNG, Indonesian, Middle East and even South American LNG supplies. "Hic Rhodos hic salta", now is the time to support and develop our abundant NG resources for power and transportation.
