Hi Wayne,

A BIG "ATTABOY" !!!!!

But I have some problems with this market ......

First, I'm looking at Sept. and the Emini is at 3.945, Ng at 3.941 - just clearing any numbers confusion.

I stated some time ago that I thought that 3.9 was in the cards and as I said earlier, I did not think that it would make it today.
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But, on the evening news as well, with all of the heat, utilities are firing up "old power plants" just to keep up.

I mentioned the other week that a large SE utility was burning everything they had including Coal.

So, at the moment, all of the Ng plants should be running "full boar" !!

Four Nuclear plants went down to 50% output yesterday. That is a lot to make up, and it starts with Ng at these prices.

Production of "dry gas" hit an all time high on 8/2.

You made the point before that the shale gas production is High, that we have more Ng than we can use. And that is fine, but even at these prices the producers "are still producing" apparently at a rapid rate !!!

Crude doesn't really enter into it, since no utility uses oil beyond a backup, except when they have to fire up an old oil fired plant.
= And I don't think that there are many left.

So .... What's going on !! The actual cost of production must be "so low" that the producers just keep pumping it out !!!???

If that is really the case, I guess you will have to leave some more room at the "bottom of your chart" !!!

And just to jar things a little bit, Ng price was holding pretty steady around 4.145 ish until "Emily" veered off into the Atlantic. Then Ng resumed heading south.

Lee