The unexpectedly weak drawdown season puts inventories back above long-run averages (see blue line in chart).(Click to enlarge)Prices have firmed up more recently as a result of a cold snap, pushing prices back to /MMBtu.But with winter coming to an end in the next few weeks, demand will plummet.A bout of warm weather during winter can upend gas demand forecasts. Heading into winter, natural gas analysts expected colder temperatures to help draw down on record high inventory levels. After mild temperatures swept across the continent for long stretches of February, natural gas spot prices crashed below .50/MMBtu by the end of the month, down more than a third compared to December highs.The kicker was a shocking injection in natural gas storage levels in the last week of February – the first February increase in storage levels ever recorded.When miners were sinking a ventilation shaft for the new Crinum Coal Mine in Central Queensland in 1993 (see map below) they unearthed a rare find.After digging through the thin surface sands and clays, followed by basalt, 21 metres (almost 69 feet) down they found pieces of wood entombed in the bottom basalt flow.
Carbon has unique properties that are essential for life on Earth.However, human beings love to see factual precision, and we want to know how old something is.Please remember that all dating methods, even those termed "absolute," are subject to margins of error. That is a very small amount of possible error range. Modern studies almost always use two or more methods to confirm dating work and to build confidence in the results obtained.So how could these tree trunks have survived being engulfed by molten lava?At approximately four metres (13 feet) thick, the basalt flow is relatively thin, Since the tree trunks were engulfed at the bottom of the flow, cooling may have been immediate, with any water present in the wood aiding extremely rapid encapsulation and thus preservation.The next image (below left) is of charred fossil wood; and beside that is intact fossil wood (Note biro gives size perspective).