Predicting

The Alberta government is predicting that sustained strength in natural gas prices will fuel a C$3 billion (US$2.8 billion) bonus in its royalty collections for its current fiscal year, ending March 31.

Canada’s federal government and the Canadian Energy Research Institute (CERI) have joined the chorus predicting a long-range, irreversible decline in pipeline exports of natural gas to the United States.

Canada’s federal government and the Canadian Energy Research Institute (CERI) have joined the chorus predicting a long-range, irreversible decline in pipeline exports of natural gas to the United States.

Forecasters at Weather Insight LP are predicting seasonably cold winter temperatures in the Midwest and Northeast for the next few weeks and the possibility of another arctic cold snap by mid- to late January.

Forecasters at Weather Insight LP are predicting seasonably cold winter temperatures in the Midwest and Northeast for the next few weeks and the possibility of another arctic cold snap by mid- to late January.

Add to the growing list of weather forecasters predicting mostly milder temperatures this winter WSI Corp. and WxRisk.com, which said in separate reports issued last week that colder-than-normal temperatures are most likely to be recorded only in the Pacific Northwest and portions of the Rockies and extreme norther tier of the United States.

A growing chorus of weather prognosticators are singing the same tune, predicting a relatively warm weather across most of the United States this winter. In separate reports issued last week forecasters at AccuWeather.com and WSI Corp. added their voices to the mix.

Raymond James & Associates Inc. issued a mixed forecast on natural gas last week, predicting U.S. natural gas prices may rally toward the end of this year, but plentiful supplies and an overabundance of storage could lead to a “disaster” in 2008. Meanwhile, the Energy Information Administration (EIA) said the uptick in Rocky Mountain gas supplies and the limited export capacity will cause volatility until more pipes and storage faculties in the region are on line.

After months of predicting that a price and drilling recovery was just around the corner, Canadian natural gas producers are setting aside forecasts and settling down to wait for markets to tighten up.