US natural gas prices have hovered around the $4 per million British thermal units (mbtu) mark for the past few years now. They’ve slipped back in recent months – summer demand for air conditioning was lower than usual, while supply grew by 4% compared to last year, as producers pumped out more gas.
But in the long-term, expect prices to rise. Hydraulic fracturing (‘fracking’) technology has made it possible to extract gas from once-inaccessible rock formations, giving supplies a huge boost. But demand should gradually catch up.
Fossil fuels are set to dominate the energy market for years to come [...]
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