Just as intl price discrepancies foreshadowed a glut of natural gas, supplies of oil are building in the US market to record levels.
In June 2012, according to the US Energy Info Agency, US crude oil inventories hit an all-time high for that month.
Furthermore, crude oil inventories have almost never been larger since 1983, which was just before the historic collapse in oil prices that saw gas selling for 55-cents per gallon.
10-yr Crude Oil Inventory Chart
This is another best sign that the shale oil boom is real. America's surging oil production is going to change everything we think we know about energy.
Right now, the
Right now, the price of natural gas in the U.S. is roughly 75% che