We started the heating season with more natural gas in storage than ever, much more than 3.0 TCF.  Problem is, we haven’t had a really cold winter in 20 years.  Until this year.  Last week, the government reported draw downs of 186 BCFG.  This week is even colder.  Yes, we will get through this winter with plenty of natural gas, but here is the question.  What’s going to happen when we start the heating season without the largest surplus of natural gas in history, and the weather again turns cold.  Bad weather, and good weather, runs in cycles.  Maybe we are in for a few cold winters in a row.  Demand is obviously up.  What’s my prognosis?  Higher natural gas prices in the near future.

http://www.ericwilder.com