Attached it an oil basket vs gassy basket showing ytd returns. Needless to say, with the red-headed commodity taking out multi-year lows early in 2012, gassy equities are having a rough go of it through the first 7 trading days. Some may think natty can't go much lower but when you've watched Rockies gas trade in the pennies not long ago due to lack of takeaway capacity/storage and the resulting gas-on-gas competition, its hard to argue it can't go materially lower from here. Mother Nature is showing no motherly love for natty gas this winter. She will need to bring a scorcher of a summer or full storage and prints at certain hubs well below the current $2.77/MMBtu will be likely this summer.