AMERICA’S “unconventional” gas boom continues to amaze. America produces more gas than it knows what to do with. Its storage facilities are rapidly filling, and its gas price has collapsed. Last month it dipped below $2 per million British thermal units: less than a sixth of the pre-boom price and too low for producers to break even.
Those are problems most European and Asian countries, which respectively pay roughly four and six times more for their gas, would love to have. America’s gas boom confers a huge economic advantage. It has created hundreds of thousands of jobs, directly and indirectly. And it has created a new manufacturing renaissance.
The gas price is likely to rise in the next few years, because of increasing demand and I even expect it to double by 2015 so NatGas is still a great investment and a great energy source for America.