|
Short Supplies of Natural Gas Causing Economic Worries
A June 17, 2003 New York Times
article indicated that short supplies of
natural gas are creating high prices
and economic worries. Below are
several quotes from the article.
- "Prices for natural gas have risen
sharply in the last year, reaching a
peak of more than $6 per million
British thermal units, compared
with about $3.65 a year earlier.
Stored supplies of natural gas have
fallen to the lowest level since the
federal government began keeping
records in 1976, with levels about
30% below average for the last five
years."
- "Last week, the Federal Reserve
Chairman, Alan Greenspan,
warned the House Energy and
Commerce Committee that short
supplies of natural gas could
contribute to erosion in the
economy."
- "With few immediate answers at
hand, industry executives and
analysts talk of elevated natural
gas prices for years to come."
Editor’s Note: Over the past 10 years in
the Northeastern part of the United
States the average residential price of
natural gas has been 22% higher than
the price of heating oil.
|
