Keith Schaefer is one of the best energy analysts out there. After watching the natural gas draw down this winter and record price spikes, utilities have been on a spring buying spree. In the next two weeks, we’ll find out if their spree is over or whether they’ll keep buying. This will determine whether prices stay firm or whether they’ll collapse. Oil prices have remained surprisingly steady and will probably remain so, depending upon the Saudis. Ethanol prices have been all over the board and Keith is keeping a hands-off attitude. If next winter is like this one, imagine where prices could go.
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