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A "Shocking" Shut-in Scenario for Canadian Natural Gas

OilPrice.com -- Canada is full of natural gas.

The country's gas storage market is near capacity, in fact -- much earlier than normal in the current gas injection season.

One scenario -- which no one wants -- has storage completely filling up... something that has never happened before.

What would happen to the price of natural gas in Canada, and who's most vulnerable in this scenario?

In the U.S., analysts are talking about theoretical full storage just before withdrawal season starts.

In Canada, though, the issue is much more pressing—still hypothetical, but certainly still possible..

“If storage did get full, it would only be for 1-2 months in a worst case scenario,” says Geoff Ready, an energy analyst at Haywood Securities in Calgary. “The market will correct itself but there could be...

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Submitted Jul 18, 2012 By: NOTSOGRN

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honda0105 Champion Author Tallahassee Posts:18,834 Points:1,638,195 Joined:Nov 2008	Message Posted: Jul 21, 2012 7:06:32 AM Ignore honda0105 Report Abuse another OilPrice.com (mouthpiece of Pig Oil) piece. Make it worst case scenario so that everyone is scared out of their minds and doesn't pay attention to the real issues.
VanIsleLes All-Star Author British Columbia Posts:898 Points:295,295 Joined:Jun 2012	Message Posted: Jul 20, 2012 2:35:01 AM Ignore VanIsleLes Report Abuse Whoopsie
LetemEatCake Champion Author Oklahoma City Posts:5,671 Points:1,230,030 Joined:Mar 2008	Message Posted: Jul 19, 2012 11:53:11 PM Ignore LetemEatCake Report Abuse Judgemobile...you make a good point! Worst case scenario is going to sell newspapers and internet interest! Many of there dooms-day prognosticators are full of it! And no doubt why they have brown eyes.
ccf_jeff Champion Author St. Louis Posts:15,439 Points:2,592,275 Joined:Sep 2005	Message Posted: Jul 19, 2012 7:54:39 PM Ignore ccf_jeff Report Abuse Hope they build more storage. It's always good to have an emergency supply to fall back on.
91Explorer All-Star Author Dallas Posts:634 Points:1,154,140 Joined:Oct 2009	Message Posted: Jul 19, 2012 10:13:42 AM Ignore 91Explorer Report Abuse oops, over-supply maybe?
rogerparry Champion Author Florida Posts:9,700 Points:1,944,130 Joined:Jan 2008	Message Posted: Jul 19, 2012 6:22:42 AM Ignore rogerparry Report Abuse Let's see a price drop.
tomok Champion Author Portland Posts:33,600 Points:2,373,210 Joined:Aug 2006	Message Posted: Jul 19, 2012 3:46:00 AM Ignore tomok Report Abuse Canadian storage facilities are full, so prices should be less? Right! Just like US NG prices, they will never go down! My home gas bill has not gone down, so why should high storage capacity NG prices go down too. Whatever the size or shape of the vehicle, Produce and ‘Drive’ vehicles with high MPG, are very safe, reliable, have a ‘reasonable’ cost and a good ‘value’ for the money. Consider using other forms of less expensive transportation to lower your cost. The price of fuel at the pump is too high! 12/22/2012
CdnLynx Champion Author Ontario Posts:1,082 Points:538,640 Joined:May 2008	Message Posted: Jul 19, 2012 12:31:54 AM Ignore CdnLynx Report Abuse Notice in the mail/bill last week from Enbridge; natural gas supplier to homes and business in Ontario, states rate increase for this winter. Some what surprised, as natural gas consumption was low last year, due to warmer weather in N. America. They must be hoping for a frigid winter this season. The indication by the summer heat now in N. America, including the northern territories would possibly suggest that maybe another warmer winter; but who am I to say, I'm no weather person. Maybe this will be an anomaly and our thermometers will bottom out. Hope not, I'm hoping that eventually I will have palm trees and orange trees growing yr. round. Anyone for a pina colada with a slice or orange (they may not go together, who cares, it's my dream)!!! {:-)\| [Edited by: CdnLynx at 7/19/2012 12:33:51 AM EST]
Cableman66 Champion Author North Carolina Posts:2,252 Points:518,560 Joined:May 2011	Message Posted: Jul 19, 2012 12:24:20 AM Ignore Cableman66 Report Abuse Gas bubble is about to burst and so will prices.
crreed1 Champion Author West Virginia Posts:2,100 Points:2,550,715 Joined:May 2005	Message Posted: Jul 19, 2012 12:21:59 AM Ignore crreed1 Report Abuse ok
boatfloyd Champion Author Jacksonville Posts:1,858 Points:415,675 Joined:Mar 2012	Message Posted: Jul 19, 2012 12:19:50 AM Ignore boatfloyd Report Abuse What kind of Cheese was that?
tedjm1 Champion Author New York Posts:5,609 Points:800,300 Joined:Dec 2006	Message Posted: Jul 19, 2012 12:15:52 AM Ignore tedjm1 Report Abuse Why do they need to take all out at once?
CDMAuto Champion Author Connecticut Posts:3,932 Points:781,555 Joined:Apr 2011	Message Posted: Jul 19, 2012 12:14:36 AM Ignore CDMAuto Report Abuse leave it in the ground until it is needed .....
ican2step Champion Author Pittsburgh Posts:1,811 Points:452,400 Joined:Feb 2012	Message Posted: Jul 19, 2012 12:12:06 AM Ignore ican2step Report Abuse Old news
PrinceLH Champion Author Ontario Posts:2,832 Points:565,745 Joined:Jun 2011	Message Posted: Jul 19, 2012 12:11:14 AM Ignore PrinceLH Report Abuse Time to convert cars to natural gas.
Blue_Cruzer Champion Author Lexington Posts:7,660 Points:1,697,285 Joined:Mar 2007	Message Posted: Jul 19, 2012 12:10:46 AM Ignore Blue_Cruzer Report Abuse Hypothetical but possible.
joel27nc Champion Author Raleigh Posts:10,677 Points:1,886,070 Joined:Mar 2008	Message Posted: Jul 19, 2012 12:08:38 AM Ignore joel27nc Report Abuse Just don't cut the cheese.
jem069 Champion Author Detroit Posts:2,684 Points:715,755 Joined:Jan 2011	Message Posted: Jul 19, 2012 12:07:57 AM Ignore jem069 Report Abuse Ok
judgemobile Champion Author Ohio Posts:7,705 Points:2,472,635 Joined:Nov 2005	Message Posted: Jul 19, 2012 12:06:27 AM Ignore judgemobile Report Abuse why do they always talk about WORST CASE SCENARIO ??
judgemobile Champion Author Ohio Posts:7,705 Points:2,472,635 Joined:Nov 2005	Message Posted: Jul 19, 2012 12:05:36 AM Ignore judgemobile Report Abuse why do they always talk about
rawdog1313 Champion Author Lexington Posts:3,444 Points:1,671,480 Joined:May 2008	Message Posted: Jul 19, 2012 12:04:21 AM Ignore rawdog1313 Report Abuse OK.
furiousfowl Champion Author Riverside Posts:16,975 Points:2,770,735 Joined:May 2005	Message Posted: Jul 19, 2012 12:04:00 AM Ignore furiousfowl Report Abuse interesting
mrbee Champion Author Little Rock Posts:3,898 Points:2,494,285 Joined:Oct 2005	Message Posted: Jul 19, 2012 12:01:51 AM Ignore mrbee Report Abuse Ok.
mgune9 All-Star Author Dallas Posts:914 Points:200,395 Joined:Feb 2012	Message Posted: Jul 19, 2012 12:01:45 AM Ignore mgune9 Report Abuse we need more use of natural gas - especially in power plants and fuel for vehicles
36IHBinder Champion Author Illinois Posts:3,098 Points:670,790 Joined:Jun 2011	Message Posted: Jul 19, 2012 12:00:29 AM Ignore 36IHBinder Report Abuse And so it begins
Tekkersmom57 Champion Author Syracuse Posts:2,019 Points:728,890 Joined:May 2010	Message Posted: Jul 18, 2012 11:56:50 PM Ignore Tekkersmom57 Report Abuse We should be promoting these vehicles with the price of Natural gas low!
hauler43 Champion Author Oakland Posts:8,158 Points:2,597,750 Joined:Sep 2003	Message Posted: Jul 18, 2012 11:56:47 PM Ignore hauler43 Report Abuse Whatever
mfeldstein Champion Author Ottawa Posts:8,306 Points:1,957,205 Joined:Feb 2007	Message Posted: Jul 18, 2012 11:55:18 PM Ignore mfeldstein Report Abuse SpankyMI .... Don't worry, these statistics won't even buy me another cup of coffee.
WIPACKERFAN Champion Author Chicago Posts:8,944 Points:1,871,150 Joined:Aug 2005	Message Posted: Jul 18, 2012 11:53:56 PM Ignore WIPACKERFAN Report Abuse OK
bra0712 Champion Author Arizona Posts:3,795 Points:795,800 Joined:Nov 2008	Message Posted: Jul 18, 2012 11:48:19 PM Ignore bra0712 Report Abuse K
CAroadrunner101 Champion Author California Posts:1,967 Points:1,343,125 Joined:Mar 2009	Message Posted: Jul 18, 2012 11:45:29 PM Ignore CAroadrunner101 Report Abuse so...
SpankyMI Champion Author Kalamazoo Posts:2,836 Points:785,590 Joined:Jan 2011	Message Posted: Jul 18, 2012 11:45:04 PM Ignore SpankyMI Report Abuse To day the news was the Canadians have over taken the U.S. in higher individual wealth. Can it get any better?
rozellep2 Sophomore Author Illinois Posts:105 Points:599,100 Joined:Aug 2005	Message Posted: Jul 18, 2012 11:43:21 PM Ignore rozellep2 Report Abuse Ok
CorvairHaven Champion Author Cleveland Posts:4,470 Points:1,480,665 Joined:Sep 2008	Message Posted: Jul 18, 2012 11:41:27 PM Ignore CorvairHaven Report Abuse We're supposed to feel sorry for them?
tman70 Champion Author Georgia Posts:1,870 Points:758,900 Joined:Jul 2007	Message Posted: Jul 18, 2012 11:39:57 PM Ignore tman70 Report Abuse Ok
jerej829 Champion Author Memphis Posts:2,974 Points:720,725 Joined:May 2011	Message Posted: Jul 18, 2012 11:36:02 PM Ignore jerej829 Report Abuse ok
Buddy2264 Champion Author Tampa Posts:11,797 Points:2,387,670 Joined:Oct 2005	Message Posted: Jul 18, 2012 11:34:59 PM Ignore Buddy2264 Report Abuse Use more natural gas and find a way to deal with the methane production problems with natural gas and burn it too. If not then production halts until storage or supply demands more. Is that not the way supply and demand works?
suzmar Champion Author Texas Posts:2,224 Points:897,080 Joined:Jun 2006	Message Posted: Jul 18, 2012 11:33:05 PM Ignore suzmar Report Abuse We need to start using natural gas and stop the stupid expenditures on so-called renewables.
sillywagon Champion Author New York Posts:15,121 Points:1,469,045 Joined:Oct 2008	Message Posted: Jul 18, 2012 11:26:15 PM Ignore sillywagon Report Abuse We need to stop promoting the silly EV's that don't make any economic sense. We need to start promoting CNG powered trucks and cars. North America has many decades of abundance of natural gas. We should use it instead of exporting it to Asia.
mstearno Champion Author Dayton Posts:8,174 Points:1,755,920 Joined:Jan 2008	Message Posted: Jul 18, 2012 11:25:32 PM Ignore mstearno Report Abuse pipelines please
serrog Champion Author Nova Scotia Posts:5,710 Points:1,540,805 Joined:Oct 2008	Message Posted: Jul 18, 2012 11:24:50 PM Ignore serrog Report Abuse Get marketing the stuff
76chevy Champion Author Toledo Posts:4,023 Points:779,395 Joined:Jun 2010	Message Posted: Jul 18, 2012 11:21:22 PM Ignore 76chevy Report Abuse I'll use it.
aggietim Champion Author Fort Worth Posts:1,831 Points:717,200 Joined:Oct 2008	Message Posted: Jul 18, 2012 11:19:51 PM Ignore aggietim Report Abuse ok
frostyWV Champion Author West Virginia Posts:2,339 Points:519,235 Joined:May 2011	Message Posted: Jul 18, 2012 11:19:42 PM Ignore frostyWV Report Abuse ok
jimedB All-Star Author Riverside Posts:540 Points:87,915 Joined:Jun 2012	Message Posted: Jul 18, 2012 11:19:04 PM Ignore jimedB Report Abuse Full storage would never happen here. Before it happened some major pipeline or storage problem would cause loss of transport or storage capacity and swift price increases.
OOXXFF Champion Author Greensboro Posts:3,193 Points:1,106,655 Joined:Sep 2009	Message Posted: Jul 18, 2012 11:18:19 PM Ignore OOXXFF Report Abuse Let prices come down.
BMWer Champion Author Calgary Posts:2,190 Points:1,692,105 Joined:Dec 2003	Message Posted: Jul 18, 2012 11:17:57 PM Ignore BMWer Report Abuse Holly123's quote "Ok .... but I'm not interested in Canada." I guess you don't need our oil, natural gas or water...
Wanda127 Champion Author Florida Posts:2,570 Points:941,325 Joined:May 2010	Message Posted: Jul 18, 2012 11:14:47 PM Ignore Wanda127 Report Abuse ok
BMWer Champion Author Calgary Posts:2,190 Points:1,692,105 Joined:Dec 2003	Message Posted: Jul 18, 2012 11:13:50 PM Ignore BMWer Report Abuse Natual gas is pretty cheap right now...not like a few years ago.
itsjustme719 All-Star Author Hamilton Posts:612 Points:618,220 Joined:Dec 2010	Message Posted: Jul 18, 2012 11:10:46 PM Ignore itsjustme719 Report Abuse Like to know why my rates haven't dropped.