Basing

Government and industry sources have grossly overstated future natural gas supplies in the United States, basing their estimates on unrealistic growth in supplies from shale gas plays, according to a report released Thursday by the San Francisco-based Post Carbon Institute, a nonprofit organization that promotes sustainability.

Government and industry sources have grossly overstated future natural gas supplies in the United States, basing their estimates on unrealistic growth in supplies from shale gas plays, according to a report released Thursday by the San Francisco-based Post Carbon Institute, a nonprofit organization that promotes sustainability.

Basing its strength largely on Monday’s 14-cent near-month futures gain, and to a lesser degree on the South adding some air conditioning load to that already existing in the scorching desert Southwest, the cash market recorded double-digit increases across the board Tuesday. Opinions were divided on whether the rally could be sustained Wednesday.