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Month payment went from $54 to $89 !!!! That's a 64.8 % increase. I tried to contact billing , but there's a 90 minute hold time ! Inflation my butt ! Anyone else see a major increase ? Trying to stay kool, Derf
Natural gas in the US recently was $9/MMBtu (about triple from a year ago) but is multiple times more expensive than that in Europe and Asia. In June, Freeport LNG plant in TX had an explosion and suddenly the US prices collapsed to $6+ (still double from a year ago) - on the fear that very profitable US LNG exports would go down. Yes, volatile it is. https://www.cnbc.com/2022/06/14/natural-gas-plummets-as-freeport-delays-facility-restart-following-explosion.html
Good memory! Natural gas is produced as a by-product from oil refineries. Periodically serious accidents happen that they do considerable damage that takes months to bring them back to operation.
@TheShadow : Nice find. Time to check the bill again. Pay-back is a Bitch !
Thanks, Derf Added : After checking bill it shows a PGA Purchased gas adjustment. 130.3 therms @ $0.36240 Base 130.3 '' @ $0.23650 PGA 7/28 days 130.3 '' @ $0.32890 PGA 21/28 days FEB . billing
Wouldn't gas distribution company have contract with their supplier . Maybe their suppler has to buy on the spot market ? Also note that PGA is on all bills. Is it time to own a piece of the suppliers & pay yourself.
There was a recent piece in Barron's NOT to blame the middlemen/gas stations for high gasoline prices. Likewise, don't blame gas utilities for high natural gas prices. Big beneficiaries in energy are E&P companies + refineries or LNG producers/shippers, and of course, the vertically integrated energy companies.
Jerry Jones appeared on CNBC today where he got applauded for making more than $1B on a bet on Comstock (CRK), so maybe we would be late to the party at this point.
Energy commodities etf funds got killed slaughterd past 3 wks
How much do you suggest portfolio in commodity energy?? 5%??
C'mon. You know that the only one who can answer a question like that is yourself.
Since I can afford NOT to tap my portfolio at all, I'm not doing it. My time-horizon gives me leeway to suffer through these awful days. There is still more pain to come. I heard a talking head on Bloomberg say the SP500 would go to 3,100.
I'm still overweight in PRWCX. I just added a bit at the end of last month. Now it's 36.8% of total. Ya, that's a big bet.
I'm personally holding 6.27% of my total in Materials at the moment. That compares to 2.47% in the SP500.
Energy: 10.24% vs 4.8% in the SP500.
PRNEXPRFDXET (And PRWCX holds ZERO in Energy! And only 1.3% of its portfolio in Materials.)
I don't know how, and don't care to learn how, to play the game of shorting stocks. My only bond fund right now is HY TRP TUHYX. Yield is now up to 6.84%. Bonds are down to 20% of total portfolio. I bought my stock funds at the highs, early in the year. I've rearranged and added a bit since then. But it still feels like sitting in a big giant pile of doggie poopies. From time to time, I continue to buy, bringing down my cost-basis.
@yogibearbull : Do you recall why the DROP in price mid June into July ? Thanks for the chart, Derf
LNG plant explosion in June in Freeport, TX sharply reduced LNG exports from the US. So, in a strange/counterintuitive twist, the price of the US natural gas fell sharply.
I'm guessing that with the loss of export capacity there would be a significant increase of NG with nowhere to go but the domestic US market, which would tend to lower the price here in the US.
Comments
https://www.cmegroup.com/markets/energy/natural-gas/natural-gas.quotes.html
our electric bills increased +++ 25% last month
electric companies are make killings/profits
will call 4CHANGEENERGY
hope they will honor the reduced natural gas prices/energy next cycle - month
natural gas etf I think declined significantly past 2 3 weeks
We were heating on the gas company !
Derf
https://www.cnbc.com/2022/06/14/natural-gas-plummets-as-freeport-delays-facility-restart-following-explosion.html
https://6abc.com/pgw-weather-normalization-adjustment-bill-surcharge-philadelphia-gas-works/12004300/
Also, while not rating or recommending this mutual fund, you can play the natural gas angle through Hennessey's Gas Utility Fund (GASFX /HGASX).
Thanks, Derf
Added : After checking bill it shows a PGA Purchased gas adjustment.
130.3 therms @ $0.36240 Base
130.3 '' @ $0.23650 PGA 7/28 days
130.3 '' @ $0.32890 PGA 21/28 days
FEB . billing
Wouldn't gas distribution company have contract with their supplier . Maybe their suppler has to buy on the spot market ?
Also note that PGA is on all bills.
Is it time to own a piece of the suppliers & pay yourself.
IS it too late?? Commodities partee end soon??
(Barron's FV estimate = $15.44. Does that simply need to be updated?)
https://www.barrons.com/market-data/stocks/et?mod=searchresults_companyquotes&mod=searchbarhttps://www.energytransfer.com/
Kept forgetting that I have 300 shares energy xfer etp since 2014. Good long term company imho.
Also holding VDE GSG commodities
have great 4th July
Kind regards
How much do you suggest portfolio in commodity energy?? 5%??
Since I can afford NOT to tap my portfolio at all, I'm not doing it. My time-horizon gives me leeway to suffer through these awful days. There is still more pain to come. I heard a talking head on Bloomberg say the SP500 would go to 3,100.
I'm still overweight in PRWCX. I just added a bit at the end of last month. Now it's 36.8% of total. Ya, that's a big bet.
I'm personally holding 6.27% of my total in Materials at the moment. That compares to 2.47% in the SP500.
Energy: 10.24% vs 4.8% in the SP500.
PRNEX PRFDX ET
(And PRWCX holds ZERO in Energy! And only 1.3% of its portfolio in Materials.)
I don't know how, and don't care to learn how, to play the game of shorting stocks. My only bond fund right now is HY TRP TUHYX. Yield is now up to 6.84%. Bonds are down to 20% of total portfolio. I bought my stock funds at the highs, early in the year. I've rearranged and added a bit since then. But it still feels like sitting in a big giant pile of doggie poopies. From time to time, I continue to buy, bringing down my cost-basis.
Also own TRAMX. PRISX. BRUFX. RGR. BHB.
https://www.cmegroup.com/markets/energy/natural-gas/natural-gas.quotes.html
https://finance.yahoo.com/quote/UNG?p=UNG&.tsrc=fin-srch
Thanks for the chart, Derf
Commodities enter near Fibonachi 68% retracements reverently and keep going up
Hope medium short term bounces