Prescient

Just how prescient were the recent comments of Chesapeake Energy CEO Aubrey McClendon and T. Boone Pickens about increasing the use of natural gas as a transportation fuel? General Motors Corp. (GM) now is calling natural gas an “enticing alternative” to petroleum, and Honda Motor Co. has begun touting “Phill,” a home refueling appliance available to owners of natural gas vehicles (NGV).

Following on the prescient forecast two months ago that natural gas prices could hit $10/Mcf by the end of the summer, Raymond James & Associates this week remained bullish on prices rising in the next few months, improving on favorable year-over-year weather comparisons and a shrinking surplus of stored gas.