From the Wall Street Journal:
Prices Could ClimbEnvironmental Capital
If Summertime Heat
Is Worse Than Usual
Natural-gas prices, up 74% since the year began, could be headed higher amid predictions of an unusually hot summer in parts of the nation. If those forecasts play out, air-conditioner use will rise -- and with it, demand for electricity production fueled by natural gas, possibly driving futures prices to records.
In Washington and Saudi Arabia, where world leaders gathered during the weekend to discuss high energy prices, much of the focus was on the price of oil, which remains near its highest closing on record. Natural-gas prices have been soaring despite increased domestic production.
Natural-gas futures settled Friday at $12.994 a million British thermal units, up 11% in June and up more than 82% from 52 weeks ago. Prices are off about 16% from the record close of $15.378 a million BTUs set Dec. 13, 2005, in the wake of hurricanes Katrina and Rita, which disrupted natural-gas production in the Gulf of Mexico....MORE