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Let's see now, we import a good bit of our natural gas from Canada,right? Well, yes, we do. Problem is that even though drilling for new gas is way up in Canada their production is still falling at the rate of about 6% a year. That shouldn't come as any suprise, despite rosy predictions about stable supply from the Department of Energy domestic production is falling as well, at a rate of about 5% a year. The problem is that new wells that are comming on line are from smaller deposits and their lives aren't as long as wells of only a few years ago. So there were are with the energy source of preference for the electric utilities (and well encouraged by DOE as well) drying up right before our eyes. Is it any wonder that spot prices for gas this winter are 100% higher than at this time last year? An energy crisis right on our doorstep and not a single OPEC memeber involved. How's the chimp gonna explain this one away?
Thom
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