Utilities Now Depend More on Pipelines, Less on NatGas Storage

A recurring theme (broken record) over the past few months has been, "Natural gas storage is too low, far lower than last year and far below the five-year average--prices will have to skyrocket any day now!" That's been the meme by traders and industry watchers. We keep saying things have fundamentally changed--that drillers can open the spigots any time they want and let it flow. Don't believe us? Then maybe you will believe the American Gas Association.

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