"The short-term supply and demand dynamics of the gas market are sufficient to make us like natural gas even within calendar 2012. Ultimately, however, our gas play is about long-term closure of the roughly 5x spread between U.S. gas and oil or natural gas from Europe or Asia. That spread is sustained largely by issues that are being vigorously addressed: transportation bottlenecks and the time and cost of converting from coal and petroleum to natural gas."
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