“…Natural gas futures in New York have surged 69 percent since hitting a 10-year low this spring. Power plants are burning more natural gas for electricity as homes and businesses crank up the air conditioning. And natural gas companies are finally cutting back after a production boom that pushed supplies this winter to the highest level on record…” http://wapo.st/P9Id0v
This trend may be here to stay as long as demand continues to increase. Current demand is increasing due to hot weather and higher use for electricity production. However, in the future we will see additional demand as more people use natural gas fueled cars, companies put more natural gas vehicles in their fleets and electricity generation continues to increase it’s use of natural gas. Furthermore, when and if the US starts to export LNG, prices could also increase on the open market due.
As always, Great Eastern Energy will…
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