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  "authorName": "David Einhorn",
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  "presentationDate": "2015-11-16 00:00:00",
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  "notes": "The chart shows a historical correlation that broke down around 2009.",
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      "text": "Prices stopped reflecting this a few years ago because we ran out of places where we could switch oil to gas.",
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      "text": "Energy Equivalence - Gas vs. Oil ($/Mcfe)",
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      "text": "Based purely on energy content, six Mcfe is the same as a barrel of oil. Prices stopped reflecting this a few years ago because we ran out of places where we could switch oil to gas. With additional substitution as we convert the transportation fleet to electricity, prices should at least partly re-converge toward energy equivalence over the next decade. This is why the long term gas curve continues to rise while the oil curve stays flat.",
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      "text": "Source: Greenlight calculations based upon pricing of the first active oil and gas futures contracts, retrieved from Bloomberg LP in November 2015.",
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      "text": "A bad breakup?",
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