Title: When Push Comes to Shove: Natural Gas Demand Resistance in a High 
Price Environment
URL: http://www20.cera.com/eprofile?u=35&m=2213


Record high natural gas prices in North America are leading market 
participants
to wonder just how high prices can go. Industrial end users and power
generators have already reduced demand a substantial amount*lending crucial
restraint to price.

* By mid-January as much as 6 percent of market demand had already been forced
out, and somewhat more flexibility is available, if needed.

* The range of influences extends beyond interplay with oil markets*to markets
for ammonia, methanol, and ethane, as well as for other manufactured products.

* The decisions being forced in the short term are likely to reverberate over
the long term and will affect the pace of growth toward a 30 Tcf market.

**end**