Slide 9 of 13
Notes:
- Negative or weak demand growth in 1998 and 1999 resulted from mild weather, high levels of hydroelectric and nuclear output, weak growth in gas intensive industries, and excess supplies of oil.
- Strong expected growth this year and in 2001results from reversals in some of those factors, including a shift from excess oil supply to tight markets. Because of the importance of weather in the ultimate outcome for gas market balances, milder-than-normal temperatures through the fall could result in drastic downward corrections to the demand and price tracks.
