The numbers don't lie—but politicians and industry bigwigs do. While pundits still wax poetic about an era of American energy independence, Bill Powers sees productivity plummeting in almost every major shale play.
Aubrey McClendon is gone — or at least he's on his way out from Chesapeake Energy (CHK). But the destruction of the natural gas market is his real legacy, and not likely to be recovered from anytime soon.
The price of natural gas hit a 10-year low in April, sinking to $1.91 per MMBtu on April 19. Since then, natural gas prices are on the rise. In fact, prices have surged nearly 50%, to around $2.75 per MMBtu over the past four months.
Now is the perfect time to invest in natural gas stocks. To many investors, that may seem counterintuitive. After all, natural gas has been the red-headed stepchild of energy for years. But prices for this plentiful alternative fuel are just beginning to turn higher.
The US likes to fancy it a place that does everything a bit bigger and better than the rest of the world. And while some of this might just be American bluster, the Yanks have plenty to crow about it when it comes to oil production in recent years.