I came across this little ditty on Bloomberg today

"Crude oil dropped 4.3 percent to $123.30 a barrel in New York, extending its decrease from an all-time high of $147.27 this month to 16 percent. Natural gas retreated 14 percent to $9.084 per million British thermal units, bringing its three-week drop to 33 percent."

Of course the news that we all received last week was that gas prices were meant to increase by 17% in Ireland and 20% in the UK, with further increases likely in Jan 09, and all this when MMBtu prices are falling our prices are going up.

I accept that many utilities enter into foward contracts to ensure continunity of supply and gas is priced accordingly on the foward market, I also know that many if not all of these contracts will have "get out clauses" with an appropriate fee being paid, which you can bet will be a lot less than the 33% reduction that they have enjoyed on the wholesale market.

So everyone's a winner except you and me, and frankly this is beginning to really annoy the shite out of me.

Should the utilities decide to pass on this saving on to us I'm predicting 2050, not 10mins to 9pm but the year 2050ish.

We need to start exercising our sense of outrage................. otherwise they will always win and it'll be all our own fault.