Fook, unfortunately, it's true. However, there should be a reactivation of marginal wells, and new exploration.
Currently, we are below the 5 year average for gas in the ground. The US has added about 200000 MWs of new gas fired generation, and doesn't have the infrastructure to get that much gas to the plants.
In Texas, 48% of elec. comes from gas fired plants.
It's gonna be an ugly summer.
THIS IS NO JOKE, it will affect the US economy if something is not done.
This country needs to build nuke and coal units RFN, or it will be a bad couple of years. If the winter is colder than normal, next year will be worse.
Last year, nat gas was 2-3$/ mmbut, now it is over 6. It is true supply and demand.
We need to get the supply up, and the demand down, by building coal and nuke. No 2 ways about it.
TXL