[Ken522]

.... so is this good news for consumers, bad news for producers, or former President Bush’s fault?

[Gondring]

Sad thing is, we’ll end up burning it instead of using it for chemical purposes to help our industry.

[TYVets]

Some amazing things happen when we drill.

[Venturer]

If there is suck a glut why is gas so damned high priced.

They keep telling us there is tons of it and yet it is expensive.

[Plumberman27]

That sounds like old news to me. The dome in the Gulf of Mexico is said to hold enough natural gas to power all of the homes in America for 20 to 25 years. During the one election year one of the deals made for support was to see that companies were allowed to do exploratory drilling there but the deal made by the loser was shut off by the winner. Guess who was who in those deals.

[ckilmer]

the solution to oversupply is to make things that currently run on oil — run on gas.

[TheLurkerX]

Hell, they had plans for nearly 500 wells in my home county in North Texas, leased everything that wasn’t nailed down, built a new pipeline, had water wells and water weenie trucks everywhere, and then the price of oil dropped back down to a more reasonable level, and they stacked rigs, laid people off, and shelved plans all around. We’ve got huge resources on the mainland they’re not using.

[Titus-Maximus]

It keeps renewables out of reach.

We should convert gas to liquids or have buses, cars, trucks use NG.

[theBuckwheat]

If E & P companies don't think it is in their interest to develop new production, they don't have to but someone else might. But recall that part of the reason that gas is priced the way it is can be laid at the foot of government bodies that restrict pipelines and granting of permission to use gas in industrial applications, or even where and under what conditions wells can be drilled.

Since the free market is a dynamic as compared to zero-sum (static) venue, as long as it is free, it will always clear. Thus the only thing that counts is price, and the price is never too high for the producer and never too low for the consumer. In fact, low prices will signal that less money is to be made than used to be the case. Big deal.