This picture says it all, and here's what it means: when gasline critics point out the potential market impact of new shale-gas deposits, they neglect to account for the declines in conventional supplies that we have seen over the past several years.
I'll reiterate: new supplies will bring down prices, which will stimulate demand. Given the lead time needed for northern pipeline projects, this just means that prices should be strong when these lines come onsteam.
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