Message of EIA Gas-Supply Estimates Becoming Clearer

摘要

On January 26, the U.S. Energy Information Administration (EIA) released a report on the impact of the 2008 hurricanes on the natural gas industry. The conclusion was very encouraging, essentially that growth in U.S. onshore production played a major part in preventing a price impact from the loss of all that offshore production. Does this sound familiar? In 2005, back-to-back hurricanes (Katrina and Rita) caused gas prices to triple. In 2008, the same situation-Gustav and Ike, causing pretty much a total loss of all offshore production-had virtually no impact. In fact, prices went down.