Gas price sets record; now over $14/mmbtu

Jackson Mueller [jwmueller@attglobal.net] writes that the NYMEX October gas contracts "catapulted to a new all-time high of over $14/mmbtu Wednesday surprising many who recall" the $3-4 for NYMEX expiration prices and less than $2/mmbtu for marginal production cost.
     He advises big buyers.
     His advice?
     Mueller doubts stepped up production will return quickly or that weather will become remarkably mild as we approach winter, or even that consumer demand will fall because of record prices.
     His advice is to “hope for the best and plan for the worst.”
     What will winter be like?
     We follow the climate forecasting teams of Weather 2000 in New York (212-465-2121) and they're forecasting "a harsh, volatile and stormy winter season.
     "Some states recorded their hottest June ever this summer, and remarkably, these same locations will have tallied up even more cooling degree days this September!"
     Originally published in Restructuring Today on September 30, 2005