Massive increases in natural gas production continues to lower prices. While some large natural gas producers such as Chesapeake Energy (CHK) are shutting some wells to reduce output, supply continues to exceed demand. A big reason for this is that oil prices are so high that it still makes economic sense for companies to drill and the natural gas comes out pretty much as a byproduct. Why we aren’t reshaping our energy infrastructure to take advantage of this and to reduce are dependence on O.P.E.C. is inexcusable.
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