General Meeting: NATURAL GAS AND OIL PRICES - ALL BETS ARE OFF!
This presentation will be an overview and analysis of gas and oil prices - recent, present, and future.
The natural gas market has been bailed out of catastrophe by two cold winters combined with two HOT summers, but this winter is failing to deliver cold weather. By the time this speech occurs (or even by the time the SPE-GCS February newsletter is published), we likely will have hit the wall where flowing gas production is shut-in by the need to finish cycling storage withdrawals. Let’s hope the experience in December, 1998 is not repeated, as shown in the price graph below. The overhang in storage inventories will not be worked off in 2012, thus pressuring gas prices into 2013. Hold on to some hope though, because gas prices will recover as gas demand for power generation ramps up even more over the next several years.
Crude oil, on the other hand, holds enormous promise of sustaining companies and jobs in our industry as technology is unlocking the resources in North America and global demand should sustain relatively high prices. The only storm cloud on the horizon is how wobbly Europe is, from a fiscal sense. Further major problems in Europe could cause a short term price decline (collapse), but S&D balances suggest it would not sustain lower prices.
MENU
MIXED GREENS SALAD
BBQ BEEF BRISKET
VANILLA CAKE
If you have special dietary needs (allergies, religious, etc.), please include special meal requests in the "Optional Comments for the Event Planner" section during the registration process.
Parking for this event :
The Petroleum Club provides valet parking service on the Milam Street side of the EXXON-MOBIL Building. Parking is also available at public parking lots in the area for a fee in the $5 - $7 range.
Location:
PETROLEUM CLUB, 43rd floor, EXXONMOBIL Building
800 BELL STREET
HOUSTON
,
TEXAS 77002