Natural Gas Prices go Negative!

Submitted by
CalculatedRisk on Wed, 10/04/2006 - 6:19pm (8 comments)
dryfly wrote on Wed, 10/4/2006 - 8:59 pm

Mish will have a field day with this one. Hard to get more deflationary than paying people to take your commodity.

Cal wrote on Thu, 10/5/2006 - 12:46 am

On a previous topic, this was a very interesting report on the topic of the nontraditional mortgage guidance from Bear Stearns:
http://www.easybourse.com/Website/dynamic/News.php?NewsID=67184&lang=fra&NewsRubrique=2

I have a hard time believing that the impact would be so minimal, I wonder if they only analyzed loans they underwrote (which may have been more stringent).

Elena wrote on Thu, 10/5/2006 - 2:21 am

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lloyd wrote on Thu, 10/5/2006 - 3:57 am

The market's reaction to all of the poor economic news is unreal. I'm not ready to capitulate but this blind faith in a soft landing is amazing and powerful.

Paul wrote on Thu, 10/5/2006 - 4:02 am

The only problem with this being a sign of anythine is that natural gas is very difficult to store -- hence pricing and supply fluctuate wildly. Amaranth (the hedge fund) got taken down because inventories in the US increased so much that it drove down the price of NG dramatically.

Nevertheless, the econobrowser piece is facinating -- can the bond and stock markets both be getting it right? Probably not.

On a more pressing note, now that gasoline prices have fallen by more than 25%, when will Congress be having hearings about oil companies manipulating the price of gas by flooding the market with cheap foreign oil? Wink

Tanta wrote on Thu, 10/5/2006 - 4:39 am

Cal, fascinating. Another article that doesn't mention the words "stated income" anywhere.

Tanta's Hint O' The Day: Qualifying a stated income borrower with an artificially low payment gets you an unreliable DTI.* Qualifying a stated income borrower with a much more realistic payment gets you an equally unreliable DTI.* If, however, it makes you feel better . . .

  • The term "DTI" has the abbreviation for "income" in it. I'm just trying to be helpful here.

This has been another installment of Snotty Answers to Unasked Questions, courtesy of Duh Jones Media, Inc.

Adam wrote on Thu, 10/5/2006 - 8:16 am

Not to worry......OPEC is here to make sure prices stay high...lol. Funny how they only care about making sure there is NOT enough oil. Instead of making sure there IS enough supply in case of unexpected supply shocks.

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