Ryan Dezember
speaker
644 appearances
11 recordings
1 series
first heard May 2018
last heard Jun 2024
Ryan Dezember’s voice in public audio — every appearance, attributed to the second.
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Appearances
Right now we're typically in the thick of it.
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Even though we're not dealing with blizzards and iced over roads and things like that, we still have our heaters on.
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Come April and May when people start opening their windows, they don't have heat on, they don't have air conditioning on, and that's sort of the, they call it the shoulder season.
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Yeah, we've gone pretty quickly, as happens in commodities, from a period where people were worried about shortfalls to now a period where we are worried about gluts.
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And if you think about commodities, naturally, the cycle usually is we don't have enough.
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And so everybody races to make more because the price rises.
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Well, then everybody makes more and the price comes crashing down because then we have too much.
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We're sort of in that situation where the concerns on Wall Street and among producers and traders is...
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Not so much will we have enough to get through winter, which was a concern heading into last winter when the world, of course, was recovering from the shock of the Russian invasion.
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Now we're at a point where we're worried about where will it all go?
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And there's a finite amount of storage in the United States.
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Gas is generally stored deep underground in old salt caverns.
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And then prices are lower in the spring and summer and fall.
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Traders will buy it, put it into storage, pay the fee to store it, assuming that the price will rise to a profitable point where they pull it out of storage in winter when demand is higher.
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Presumably, assuming we don't have war and production stays apace and there's not like a terribly unusually hot summer that produces a lot of demand for air conditioning and electricity, you would start out presumably with lower prices.
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So we're sort of in this long process of unwinding the big run up after the Ukraine invasion.
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where prices got to $9 or $10 to where they're in the $2 range threatening to go below that, which sets off alarm bells in the oil patch.
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That gets to be a price where a lot of wells aren't economical to drill if gas is the main product coming out of them.
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In the Wall Street Journal, we usually quote the next month's price, like the gas that's going to be delivered in March is now the main price.
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The February gas just came off the board this week.
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Showing 81–100 of 644 · page 5 of 33
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