Skip to comments.Natural Gas Sets Another Record
Posted on 09/29/2005 2:21:42 PM PDT by M. Espinola
The cost of natural gas reached another record high Thursday, rising 9.6 cents or 0.7 percent to close at $14.196 per million Btu.
Traders bid up the commodity on the New York Mercantile Exchange after the U.S. Energy Department reported natural gas inventories had grown less than expected and the pace of production recovery in the Gulf of Mexico slowed.
Crude oil rose 44 cents to settle at $66.79 per barrel.
Gasoline for October delivery dropped 3.4 percent to close at $2.2516 a gallon, and October heating oil fell 0.8 percent to close at $2.1247 a gallon.
The Energy Department said the nation's store of natural gas was up last week by 53 billion cubic feet over the previous week despite production closures caused by Hurricane Rita.
Some economists had expected as much, but a number of commodity traders saw the increase as inadequate and, thus, a reason to bid up the price.
Total U.S. supply of natural gas was reported to be within its recent historical range for this time of year, the Energy Department said.
I look foward to this Winter's heating bills with great anticipation....
Once everyone is getting heating bills for $300 or more a month, people might finally get angry. The natural gas issue is serious. I mean, even the middle class will ahve a tough time floating the kind of bills we are about ready to get.
Been watching the price of natural gas since the California fiasco when it hit $10 and then collapsed to $2 or so and took Enron [the b.zz.rds] down with it. Main reason for watching after that was that it was said that the Alaska Natural Gas Pipeline would not be built unless the price could go over $2.50 and stay there. That was break-even. $5-6 would make it worthwhile. But here we are over $14. That is way too high. A deal for construction should be announced any day now. $30 billion project.
I just filled up my propane tank (I use as as the back-up system for my two heatpumps) and it cost me $460. I am so glad the enviro-nazis and their Democrat allies have kept the US from developing a sensible energy plan. I really don't think the one Congress just past will do much either.
QUESTAR GAS REQUESTS A 13.37 PERCENT INCREASE IN ITS UTAH RATES
Questar Gas is requesting a 13.37 percent increase in its Utah rates, the majority of which reflects higher costs to purchase natural gas for its customers.
Quilt futures hit an all time high on the
NY Quilt Exchange today as higher
Natural Gas prices were announced.
Time to get a new union suit...
Time to get a new union suit...
quilted, of course :)
LOL. But of course. Though if this keeps up I may wrassle my cat for his fur suit.
Let me know where to send the fur. I got plenty. ;-)
LOL. Our utility is saying that nat gas rates will probably go up over 25%. Cat fur, dryer lint, dust bunnies, it'll probably all be put to use.
If lint counts, Im rich, I tellya, Rich!
We're hearing up to 40% hikes here
Keep it comin' baby. I gots kids in college!
I have a coopful of chickens, whattya think that is worth, heat-wise?
It was around $0.77/CCF last winter.
We have lots in the ground up here in Alaska but can't get it down to you yet. Gov Murkowski is working hard to get a pipeline deal and it may be soon. BTW the Caribou are anxious too, last pipeline we laid tripled the size of the herds (much to the dismay of the greenie marxists). Apparently they like warmth in the winter.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.