Let's Get One Thing Straight: Jeremy Grantham Did NOT Say Natural Gas Was Going to $12.00 Mcf.

Sometimes the difference in appearance between a fraudster and an idiot are microscopic.
From a site we may not be linking to in future, Money Morning:
Natural Gas Prices Could Triple – And So Could Your Profits

By Tony Daltorio, Contributing Writer, Money Morning

May 2, 2013

Natural gas prices are finally turning around, hitting multi-month highs - and piquing the interest of legendary investors who say the commodity has a lot higher to climb.

While most commodities are moving lower in price - some quite sharply - natural gas has soared in 2013.

The June natural gas futures contract on Monday settled at $4.392 per million BTU, putting it up 31% so far this year. This makes natural gas the top performer among the 24 commodities in the Standard & Poor's GSCI index.

Noted contrarian investor Jeremy Grantham of GMO Asset Management is among the natural gas bulls. He recently told a value investing conference in Toronto that investing in natural gas at today's low prices is a no-brainer.

Grantham believes the current glut in natural gas will turn into a shortage. With the price in the U.S. so low in comparison to global prices, he says overwhelming demand for natural gas from users such as plastics manufacturers, petrochemical companies and fertilizer makers will push the commodity into a shortage situation.

He expressed to everyone in the audience how bullish he is when he stated that within five years "the price will have tripled."...

And here's Mr. Grantham via last week's " GMO First Quarter Letter: "The Race of Our Lives" By Jeremy Grantham (Resources, Population, Climate Change etc.)":

...Correction:  Natural Gas Forecast

I am bullish about the longer-term price of natural gas and in my personal account I am long the futures several years out. At five years out, the implied price is $4.50 mcf. However, in the Q&A section of a talk I gave recently I was quoted as saying that in five years the price “would have tripled.” This implies a price, then, of $12. This is either a misquote or a misspeak. What I intended to say and have said before was that from the low last year the price would be likely to triple in 5 years: that is to about $6 or $7 mcf, far above the assumed $4.50 then, but far below the number in the quote.

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