Leeb – Gold, Silver & Natural Gas Are Going To Soar
November 27, 2012
Today acclaimed money manager Stephen Leeb spoke with King World News about gold, silver and natural gas. Here is what Leeb had to say: “I noticed that natural gas is trading somewhere around $3.75. What’s significant is that the price of natural gas today is about what it has averaged over the past four years. The reason four years is important is because it marks the time when unconventional or fracking gas came into its own.”
Stephen Leeb continues:
“That’s when we started seeing this huge pickup in natural gas. We have had all of this talk about all of these additional gas supplies, and yet you still have natural gas sitting at $3.75. We also still have every dedicated fracker, whether you are talking oil or natural gas, basically losing money once you subtract out capital expenditures.
A fracked oil well sometimes depletes at a rate of 60% per year….