Spencer Jakab

speaker

981 appearances 14 recordings 1 series first heard Jul 2017 last heard Jun 2021

Spencer Jakab’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Natural Gas Prices Could Rise This Winter Despite Glut · 25 Oct 2017 podcast

I mean, so what you have to understand about natural gas is that there is a time of the year when we have too much of it and there's a time of the year when we have too little of it. matched

And that's just always going to be that way. matched

There are huge underground storage areas that where it's put away during the warm months. matched

And then when we have heating season kick in, which begins in two to three weeks. matched

then we can begin to draw that down. matched

And it doesn't look very unusual this year, but because we may have La Nina conditions, we might draw that down fairly rapidly. matched

It did happen about four years ago, and it might happen again now. matched

So La Nina is when it could be a colder-than-normal winter. matched

That's right. matched

It's cold conditions in the Pacific Ocean, and it can create a colder-than-normal winter, not in the entire U.S. matched

It could be warmer in some parts, but those parts don't matter for natural gas. matched

The part that matters for natural gas, which is the Northeast and the Midwest, it could be pretty cold. matched

And it doesn't even have to be that bitterly cold, because we're about 5% below where we were a year ago in terms of gas stored away for the winter. matched

A combination of that and a cold winter really could squeeze us – matched

It might not, but the possibility exists for a squeeze by the late winter. matched

Yeah, so you've got kind of a race going on now. matched

The market is so, so different than it was 10 years ago. matched

You know, you used to have a market that had to be... We didn't really produce enough natural gas in the U.S. matched

It was the largest kind of unified natural gas market in the world, but we had to bring some in from Canada... matched

and we were building import terminals to bring in liquefied natural gas, so shipments from abroad. matched

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