I'm seeing natural gas at $4.00 by December. Play it with UGAZ. Here are my reasons:
La Nina will increase the number of tropical storms in the Atlantic, which has been on the quiet side for the past three seasons.
During one week last month, the country used up a little of its gas reserves for the first time during a summer in 10 years, according to a report released Monday by the U.S. Department of Energy.
It became cheaper for power plants to burn gas than coal. In April last year, natural gas generated more electricity than coal in the U.S. for the first time in decades.
U.S. Natural Gas Drilling Rig Statistics
Current natural gas drilling rigs: 86
Active rig count one year ago: 223
Rig Peak (hit on 9/12/08): 1,606
Peak natural gas is coming plus depletion rates show a steep drop off