MacroVoices #335 David Hay: Why US Energy Prices Can Rise Even In Recession
Macro Voices
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Gases Trading in Europe - Is There a Glout?
Natural gas inventories continue to contract in the united states, very different tham what the expectations were when that plant first came off line. The european panies and utilities are being threatened with shutting down because they can't get natural gas for their feed stock. Even if we do go into a global recession, i believe there will be virtually no demand destruction o f crut. And the reason is fuel switching. It's so much less expensive than either natural gas or coal in europe, they are going to burn oil.
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