I was in Cle Elum, Washington at a coffee shop with a Little Free Library, where I found this book:
Basically the author goes through a lot of data that seem to show that the natural gas supply estimates that have been discussed in the media the last few years (particularly the "100-year supply") are wildly overblown.
Aubrey McClendon and Boone Pickens were two of the promoters of the "100-year" idea ... McClendon died earlier this year in what looked to be a suicide (single-vehicle car crash) the day after he was indicted for bid-rigging shenanigans in the leasing of natural gas fields. Pickens is still alive and still promoting natural-gas-powered cars ...
There's somebody near Cle Elum promoting this book; I got a copy from the Cle Elem library and read it while in Leavenworth at the Sleeping Lady ... where I left it in the library there.
We stopped back in Cle Elum on our way home ... and there was another copy of Powers' book on the shelf!
So a possible trading idea: Buy natural gas futures (/NG) and sell calls against them, at least until nuclear fusion starts to work :-) (See Tastytrade for more trading ideas ...)
Saturday, October 22, 2016
Natural Gas: not a 100-year supply after all?
Labels:
/NG futures,
100-year supply myth,
natural gas,
Tastytrade
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