Wednesday, August 12, 2009

Three Trillion Cubic Feet

That's how much natural gas the US has in storage, 3.153 tcf to be precise - that's 19.7% above the five-year average and 23.2% above last year's level. (link)


The U.S. Energy Information Administration is expected to report that 64 billion cubic feet of gas were added to storage during the week ended Aug. 7, according to the average prediction of 17 analysts and traders in a Dow Jones Newswires survey. The storage estimate surpasses last year's 51-bcf build in storage and the five-year average injection, which was 42 bcf.

The EIA is scheduled to release its storage data Thursday at 10:30 a.m. EDT.

If the storage estimate is correct, inventories as of Aug. 7 will total 3.153 trillion cubic feet, 19.7% above the five-year average and 23.2% above last year's level.

Added: US gas demand is expected to decline 2.6% this year.

- Brewskie

2 comments:

  1. Incredible.

    I'm actually thinking of buying a Honda Civic GX. Why not? I've never owned a car before, and this might be a good long term investment.

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  2. joedead,

    Sounds good. NGV engines are known for their longevity, with some owners claiming they last roughly twice as long as the gasoline-powered counterparts.

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