El Paso Corp. reduces reserve estimates 41%

[jmcgowanjm]

The company reduced its reserve base as of the end of last year from 4.46 trillion cubic feet of natural gas equivalents to 2.64 trillion cubic feet of gas equivalents

http://www.chron.com/cs/CDA/ssistory.mpl/business/2407526

[hatrack]

1. This seems to be getting rather, uh, trendy of late

Interesting stuff, and thanks for your continuing updates!!

[jmcgowanjm]

3. hey hatrack, I'm reading your stuff too. Keep it coming.

[jmcgowanjm]

2. Summertime Shocker: Gas Could Hit $3 a Gallon

"It is not only possible, it is probable," said Fred Rozell,
director of gasoline pricing for Oil Price Information
Service, which tracks and reports on the oil industry.
"In the summer, we consume more gasoline than we
produce.

" we won't have that extra supply to help us."

http://www.evworld.com/view.cfm?section=communique&newsid=4877

Evworldeditor reads these posts. Thanx for this one.
I like your site.

[brokensymmetry]

6. $3 isn't a problem -

at least, not for most. But what comes next - $5, $7, or more, all in a few years - most certainly will be. If that's coupled with a natural gas shortage...

The economic dislocations could be really nasty.

[jmcgowanjm]

4. Finite is finite.

Because of the net energy concept at work, our stock of nonrenewable energy is even less than commonly supposed

http://www.uwsp.edu/geo/courses/geog100/Petrol-ShrinkNetE.htm

[jmcgowanjm]

5. CNBC/Weeden Energy Guy just said $25/b next year

There's some serious denial goin' on here.

http://wolf.readinglitho.co.uk/chartpages/r/r6provreslaworld.html

This chart does not include:

El Paso reduction, ShellRD reduction, Husky, Forest.