I suspect you may see some slowing up if you go down to $5 gas in the next month. That will be a good test of how good they think it is. |
It could be better than the Barnett. It's in the early days, and I don't think the investment community's really woken up to that yet. |
The risk appears greatest for the gas names that have outperformed considerably over the last 12 months, even those with strong fundamentals. |
The supply-demand balance is shifting. This is clearly the case with gasoline, and now things are getting a little looser with crude oil as well. |
Three years out, they can recover much of the cash outlay. |
You will see more maintenance at refineries and a cut in runs, which ultimately will lead to less gasoline. Imports will also drop off as prices move lower. |