The industry and investor backlash against low natural gas prices has set in and will continue through the summer, no doubt. I find it a bit curious, though. After all, when we attend investor conferences, CEOs still insist that most of the U.S. shale plays remain economic with gas prices as low as $3.50 per thousand cubic feet (Mcf), and certainly at $4.50. The charts in sell-side analysts' lengthy reports reflect a similar view.
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