Monday, April 18, 2016

Yikes! More scary petrol news

The Tribune reported yesterday that Ultra, Wyoming's largest gas producer, missed a $26,000,000 interest payment.  Clearly, that's not good.  The article went on to explore how Wyoming gas is below the profitable rate right now.  And, for those inclined to blame the Federal government for pricing woes in coal, the natural question is that if gas is so cheap its being sold at a loss, what hope is there of boosting the price of coal domestically?

And to compound woes, a meeting of the petroleum producing nations in Doha failed to come up with a production agreement, causing oil prices to drop 6% on the Asian market yesterday.  Oil prices had rebounded a bit lately, including at the pump.  We'll see if they can even remain stable at the current price now.

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