Reasons to be Bearish on NG

Let me ask you something, if fracking costs more than conventional gas extraction, does it cost more than conventional oil extraction?
 
If it helps, oilsands extraction is somewhere around $60/barrel. Saudi's get it for about a third the cost. Encana says it currently costs them $3.70 per MMBtu to extract gas from Haynesville and they are trying to get the costs down to $3.00, so it looks like costs have improved since 2009.

Not sure if it helps, but the energy equivalency factor is said to be 5.8 (i.e. there is 5.8 times more energy in a barrel of oil than a MBtu of gas).
 
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