Peak Energy: The US Natural Gas Price Slump - 0 views
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Energy Net on 20 Apr 09AP reports that falling natural gas prices in the US are making residential consumers happy for the time being, but notes that unconventional (shale) gas drilling has fallen off a cliff in recent months - Homes that use natural gas for heat could save big. The 60 million American homes that rely on natural gas for heat can expect substantially lower bills next winter thanks to a glut in supply and the weak economy. Just as distributors start to lock in contracts for the coming winter, natural gas prices have fallen almost 75 percent. Not all of that will show up as savings on the heating bill, but it should still mean noticeable savings. Utilities also generate about a fifth of the nation's electricity with gas, and many of their customers should notice price breaks as well.