While many gas market observers believe the recent price spikes have been significantly overdone, this does not rule out the possibility that there has been a legitimate tightening in the market, according to energy consultant Stephen Smith of Natchez, MS-based Stephen Smith Energy Associates. The federal government’s own long-term gas forecast released last week supports that conclusion (see related story).
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Consultant Says Market Overreacts to Few Legitimate Supply/Demand Changes
While few gas market observers would disagree that the recent gas price spikes have been significantly overdone, this does not rule out the possibility that there has been a legitimate tightening in the market, according to energy consultant Stephen Smith of Natchez, MS-based Stephen Smith Energy Associates.
December 16, 2003