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Article: New Pipelines Will Even Out Gas Prices
- Article from:
- AP Online
- Article date:
- March 15, 2008
CopyrightCopyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. (Hide copyright information)
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In the Rocky Mountains, the energy crisis has mostly been a crisis for natural gas producers and a boon for consumers.
Last fall, gas suppliers competing to stuff excess production into constrained pipeline systems drove spot prices to a laughably low 5 cents for 1,000 cubic feet of gas. That's the equivalent of a nickel to heat a typical house for two winter days.
"A lot of producers didn't think it was funny," said Porter Bennett, president and chief executive for energy analysts Bentek Energy LLC. "They were actually paying somebody to take it." Storing gas or turning off wells isn't always practical.
Yet for consumers across much of the West, where ...