It has been a market truth for most of a decade that the price of
natural gas in North America was one-sixth the price of natural gas in
Japan.
The dream of many an entrepreneur was to put the fun back in
fungible. That is, they want to compress or liquefy cheap American or
Canadian natural gas and ship it across the Pacific.
They would reap large rewards from the arbitrage.
I made a lot of money over the last five years by owning Chicago
Bridge & Iron (NYSE: CBI) — a company that builds the infrastructure
needed to move natural gas around the planet.
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