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A few people have asked me why after 6 years being #bearish #natgas I’ve become vocally and aggressively #bullish - I know I give off the impression of a degenerate gambler but I do have a thesis underlying my view, I’ll do my best to share and summarise in the comments below…
1) despite common misconception, it’s not because of the weather… I’m not one to tweet about vortexes (you know who you are), crazy weather patterns, climate change or hurricanes. That’s all short term, I typically take a 9-12 month #natgas position absent of leverage…
2) it’s not to do with LNG, #freeportlng etc. - one can’t deny that has had an effect in 2022/23. But that’s exacerbated what was already in effect IMO. All upcoming projects have been priced in the contango curve (2024 earliest) and prod has reacted (drilling, DUC increase etc)
Friendly advice for FreeportLNG: Don't mess with PHMSA. That approach did not work for Cheniere or for TETCO, and it won't work for you. Ultimately, it is bad for the energy industry.
#FreeportLNG #PHMSA #LNG #naturalgas #oil #energy
#FreeportLNG #PHMSA #LNG #naturalgas #oil #energy
Here's an excerpt from yesterday's press release: "Freeport…identified a recovery plan for reinstatement of partial operations…" Sounds like corporate PR at its finest: control the narrative.
What is the end game here? Make PHMSA look like a slow, dysfunctional government agency that is "against business" if and when they don't OK the company's restart timeline?
