Wow. Nat gas glut on horizon, Barron's argues that the US should EXPORT nat gas, and price tumbles to 52-week low.

[Hans Laetz, Newsgroup Editor]

By HANS LAETZ
California LNG News Service

Now, I'm just a part-time student, a newspaper writer for a little-
bitty weekly, an occasional sailboat skipper and someone trying to
rewire a boat trailer's lights without blowing up his Ford.

I'm not an energy analyst. I follow the LNG world for fun.

But you tell me what to make of these headlines:

(1) Natural gas production in the US is reaching a 35-year-high, and
the Texas oil patch is worried about a glut, the Fort Worth daily is
reporting today.

(2) The domestic price of LNG has dropped to $8.10 per thousand cubic
feet, and is still dropping.

(3) The international price of LNG is more than double the US price,
and increasing.

(4) The state of Alaska has picked the transcanada natural gas
pipeline to flood the lower 48 with nat gas through Canada, and has
all-but-rejected the plan to ship nat gas to California via
hypothetical LNG terminals.

(5) The Russians, who have already cut nat gas supplies to Europe to
show their strength, have now invaded a U.S.-friendly nation,
disrupting oil and gas pipeline deliveries. Russia, of course, is half
of the supplier to California through the Sempra terminal near
Tijuana.

(6) Barron's magazine is arguing in its editorial pages this week that
the U.S. should EXPORT nat gas through LNG ships to Europe to wean
other nations off politically-unstable sources of petro energy, and
provide export income to the U.S. whoch is blessed with plentiful nat
gas supplies.

(7) Sempra is diverting cargoes bound for California to Asia, where it
can double the price.

(8) One LNG importing company -- Freeport, in Texas -- has just asked
FERC for permission to EXPORT some cargoes of LNG that it has already
IMPORTED from abroad. It seems this patriotic Texas company can sell
the superchilled liquid gold for twice as much in Europe as it could
sell for in the U S of A. So much for the theory that LNG is such a
critical component to the American energy supply.

Now, can someone please go ahead and make the case for the short-term
and medium-term needs for LNG import terminals?

Anyone?