Tuesday, June 12, 2012

Gas, gas, gas

So I saw a price for gasoline advertised at $3.35/gal the other day.  I remember some goal of $2.50 a gallon being talked about in one of the presidential debates earlier in the year.  I suspect when that was being bantered about gasoline in the region was right at $4/gallon.  So in a sense we are just almost halfway to that nominal goal.  via gasbuddy.com (link on the right) you can see the chart for how the trends have looked in the Pittsburgh region over the last two months. 

As for the near term future?  Oil continues to drop around the world. CSM: Oil prices hit eight-month low in Asia

Natural gas itself is plunging again.  (real time prices).  I would not trust anyone's predictions in NatGas markets, but there was serious talk of ever more drops not long ago. If any of those predictions come to pass CHK will be in a lot more trouble than it is even today.  So will a lot of other producers I imagine.  Does not seem to be slowing down the development of new supply locally however. 

and even the PG caught my coal musings last week. Probably the 'distuptive technology' line. but again:  exports? coal? Pittsburgh? See theStreet this AM: Peabody Shows China Is Coal's Best Recovery Bet


On airlines (connected only in that they use fuel as well I guess)..  while there is an interesting controversy over a plan to get a new hub operation going in Pittsburgh, out in Philadelphia they are moving ahead with a multi-billion dollar airport expansion


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