Free markets of consenting adults responding to price signals work best producing prosperity and upward mobility of the masses. More available and its cost low has February natural gas exports to Canada up 0.918 Bcf/d YOY, to Mexico up Continue reading
Consumption increasing has YOY crude-oil-inventory at Cushing changed to YOY decline–a huge contrast to the gigantic inventory increase two years ago.
While UP is the direction we head, this century’s U.S. growth rate slower is helping those bearish to remain bearish. The Developing World growing again and millions of people here needing to Develop too, drive our Bullish Outlook.
U.S. commercial crude-oil inventory declined only 0.9 mmb last week but total crude-oil inventory declined 2.4. And, the total now is up only 9.9 mmb YOY, down big from up 45.3 YOY in mid February.
While natural gas imports increasing are encouraging natural gas bearishness, surging exports has U.S. net exports at zero in February. . . . We suspect Wonderful infrastructure investing has the U.S. a net exporter today and rising.
Notably less electricity needing to be produced in January and February and it an important ingredient of U.S. GDP helps explain why this morning’s estimate of Q1 GDP growth was only 0.7%, helping those bearish keep their expectations low.
In the 1800s it was kerosene for lamps making up for fresh-solar’s limitations that drove UP. Now it is almost 5 billion more people Over There eager to prosper from the much, much more that oil powers.
Despite how mild winter 2016/17 and production growing fastest in Ohio, Pennsylvania; the spot price of Marcellus natural gas much higher than the prior two years is also indicating gas supply has fallen behind gas demand and depletion growth.
While U.S. gasoline inventory encouraged those bearish, rising distillate and jet kerosene demand confirms those Participating here Doing/Being/Having more. . . . 5.955 mmbd the last four weeks (bold line) is a new record high, 0.500 (+9.2%) more than last year (line).
76.548 in August of 2015 is the initial-estimate-peak for dry-marketed production. 75.018 in April 2015 is now this peak, 1.530 Bcf/d lower. 70.732 in January is down 4.286 from the April 2015 peak and down 2.664 YOY.