The NYMEX September gas futures contract is currently trading at $4.10/MMBtu., $0.05 higher than yesterday's settlement. The 12 month strip is trading at $4.40/MMBtu (Down $0.05) and next year's winter strip (Nov 11 - Mar 12) is trading at $4.44/MMBtu (Down $0.05).

Debt Ceiling Crisis Adverted For Now...

            The U.S. Senate recently passed legislation allowing for the debt ceiling to be raised, creating temporary relief from the possibility of defaulting on our nation's loans. Soon thereafter, the President stressed the importance of creating job opportunities as well as reducing government spending.

            Fortunately we already discovered opportunity for job growth and economic stimulation; the Marcellus Shale. Studies have already shown that in municipalities that allow drilling have experienced a decrease in unemployment and an increase in taxes. With such a great available resource, we should take advantage of the job opportunities that it offers.

                             Marcellus Shale Rig, Hickory, PA

 Extreme Heat in the South

            The 8-14 day climate outlook from NOAA is calling for much higher than average temperatures in the Southeast and all along the gulf coast. Temperatures in these parts are expected to exceed 100 degrees, and in some places the humidity could make it feel like over 120 degrees.

            At this point, there does not appear to be any hurricanes forming with any chance of making landfall in the near future. No hurricane has made landfall yet this year and this summer was predicted to be a highly active hurricane season. August is usually the peak of hurricane activity, so as conditions change, we will keep you posted.