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Shorts Walk the LINE

This is big boy poker, and tempers can get frayed. Linn management has been arguing against Hedgeye on Jim Cramer's "Mad Money" program and buying their own shares, leading Hedgeye CEO Keith McCullough to start tweeting against Cramer, and for the rest of us to stock up on popcorn. (Linn Energy is a holding in Cramer's charitable trust, Action Alerts Plus.) Some small investor advocates, including Tim Plaehn, who writes for Seeking Alpha out of Asheville, are also pushing management's case.

My own view is that most of Linn's production is of natural gas and natural gas liquids, whose prices are under severe pressure due to a lack of export capacity. The Obama administration's slow review of applications to export liquified natural gas are now getting a big pushback from the oil states, as Fuelfix reports. Exploration companies need the higher prices exports bring to deliver on their promises to shareholders.

The natural gas glut killed Chesapeake's dreams, and they're going to kill other dreams before it's over.

At the time of publication the author had no position in any of the stocks mentioned.

This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.

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