NEW YORK (AP) - The
frigid winter of 2014 is setting the price of natural gas on fire.
Record amounts of
natural gas are being burned for heat and electricity - and itís so cold
that drillers are struggling to produce enough to keep up with the high
Friday, the price
rose within a whisper of $5 per 1,000 cubic feet, the highest level since
June 2010. Itís gained 25 percent in the past two weeks.
Natural gas is used
by half the nationís households for heating, making it the most important
Natural gas and
electric customers are sure to see somewhat higher rates in the coming
months, but shouldnít experience sharp increases because natural gas and
electric utilities often employ financial strategies that protect
residential customers from price spikes.