'Step change' for gas prices ahead this winter?

The chorus is getting louder for a secular change in US gas markets.Several speakers at an Oct. 4 Houston forum pointed to the growing confluence of factors that would underpin an up cycle for the US upstream industry being sustained for several years.Jim Lightner, chairman, CEO, and president of Tom Brown Inc., predicted that gas price volatility would continue "but from a higher platform" than where it is today. His view was echoed by other speakers who see a US drilling recovery paced by a tightening gas supply-demand balance that is driven as much by slumping US production as it is by growing gas demand. That squeeze is being exacerbated by a current reluctance among US and Canadian o...

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