NaturalGasStocks.com (NGS), and OilandGasStockNews.com (OGSN), global investor websites for the natural gas, energy and oil industries report on the growing demand and rising price of natural gas. Industry analysts Philip McPherson, Director of Research, C.K. Cooper & Company, and Joseph Magner, E&P Analyst, Petrie Parkman & Co, provide insight into current market drivers and the anticipated direction of the natural gas industry. Industry participants Chesapeake Energy Corp (NYSE: CHK), third largest independent producer of natural gas in the United States, and Petrol Oil & Gas Inc. (OTCBB: POIG), an oil and gas exploration and development company primarily focused on CBM, assess and evaluate the current environment and reveal future expectations.
Report Excerpt: The Natural Gas Market: Demand Exceeds Supply - Nowhere to Go But Up?
By Ann-Marie Fleming,
The Energy Policy Act that was recently signed into action by President Bush in early August contains provisions directed towards increasing the supply of natural gas, encouraging new exploration as well as providing tax incentives towards new construction of pipelines, in hopes of reducing the current disparity as demand continues to exceed supply.
The growth in demand for natural gas, explains Philip McPherson, Director of Research, C.K. Cooper & Company, essentially began with the Clean Air Energy Act, which restricted the construction of new electrical plants that ran on oil or coal. Continued pressure on gas prices grew as utilities, industrials and consumers began switching to natural gas to take advantage of its cost efficiencies and clean burning attributes. Other factors such as record price levels for oil, recent heat waves and harsh winters have also contributed to increased demand for natural gas.
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Featured Company: (OGSN and NGS are compensated by companies as disclosed in disclaimer.)
Petrol Oil and Gas, Inc. (OTCBB: POIG) is an oil and gas producer whose primary focus is the development and production of oil, gas, and Coal Bed Methane (CBM) in Eastern Kansas and Western Missouri. During the past three years POIG has acquired a large mineral acreage and drilled a total of 23 test/development wells in this area that are geologically suitable for CBM development. In addition, the Company has currently operates a producing property with 72 CBM wells in the prolific Thayer Gas Field in Southeast Kansas and has recently acquired an additional 400 gross acres within its Petrol-Neodesha property.
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