Wednesday, April 21, 2021

"Legendary Natural Gas Trader Sees ‘Seismic Shift’ in Houston’s Oil Patch"

I owe our readers an apology. For the last month we have skipped the Thursday EIA storage report and the EIA natural gas weekly update. And it has been brought to my attention that I forgot to explain why.

I hate the shoulder seasons.

Winter, fine. Summer, love it. Spring and Fall? They can kill you. And do it so fast that using the blog as a means of communication makes as much sense as sending info and opinions by pony express. Here's the price action since our last "EIA Natural Gas Weekly Update", March 5:

Looking at the chart, it might have been possible to trade the Loch Ness Monster-looking thing that developed in mid-March but if you get off on the wrong foot in that down/up/down/up/down it can drive you crazy and make you poor.

All of which is the long way to say I'm sorry, I just wanna tell you how I'm feeling. And just know that going forward:

Never gonna give you up
Never gonna let you down
Never gonna run around and desert you

And  from Bloomberg via gCaptain:

For John Arnold, the billionaire philanthropist who made his fortune betting on natural gas prices, Houston’s fossil-fuel industry seems finally ready to move on.

A year ago, talk in the Texas energy hub was mostly about defending oil and gas and denouncing renewables, Arnold, 47, said Monday on his Twitter account. Now, much of the discussion has shifted to clean-energy topics including wind, solar and batteries.


“Even those who are not ideological believers are taking the cues from the financial markets, which have no interest in oil production growth anymore,” said Arnold, the former head of natural-gas derivatives at Enron Corp....


I. am. so. sorry.