Thursday, October 29, 2015

This Setup in Natural Gas Is Getting Even Better...

Folks continue to be bearish on natural gas...
 
Last week, I told you the National Oceanic and Atmospheric Administration (NOAA) is predicting a mild winter this year. A warm winter would mean less natural gas consumption.
 
Now, the U.S. Energy Information Administration (EIA) is saying that household natural gas heating bills will fall by 10% this winter.
 
I disagree...
 
Part of the EIA's forecast is based on NOAA's winter prediction. But as I told you last week, I give premium weather service WeatherBELL Analytics' models more credence. The meteorologists at WeatherBELL are predicting a major cold and snowy winter over the South and into the East. And that winter will get a lot worse after December and run late through March.  (more)

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