Natural Gas Prices Drop to Decade-Low Levels

The price of natural gas has hit a decade low, but cheap wet gas prices are not expected to derail the shale boom in Ohio, according to the Zanesville Times-Recorder. Utica shale deposits in eastern Ohio are still very attractive to companies because dry gas and oil deposits are present beneath the service as well.

Natural gas was selling for $3 per thousand cubic feet this week. U.S. Energy Information Administration economist Alex King stated the prices will remain as production grew in 2011 and there is a lot of gas available, according to the Zanesville Times-Recorder.

Ohioans shared their thoughts on the increased shale drilling in the state and decreasing natural gas prices via email, instant messaging and Twitter.

* “I heat with natural gas, so I am very glad that prices keep going down. So far winter has been mild, but that will change, it always does. AEP keeps increasing prices, so more people will be eager to heat with natural gas now that the shale boom is making it the number clean energy source in the state.” — Ron Baker, construction worker, Zanesville.

* “I was hoping that the cheap prices would deter greedy gas companies from further eroding our natural resources, but it does not sound like that is going to happen. I am all for energy independence and jobs in Ohio, but not at the expense of our drinking water. More people should be out there protesting fracking with us after the Youngstown earthquakes.” — Cheyanne Franklin, Ohio University student, Athens.

* “Increased drilling in Ohio the price of natural gas will stay low. That is good for residents who heat with natural gas. If Gov. Kasich is successful in bringing a care manufacture to the state to build cars powered by natural gas, it can be good for everyone. The earthquakes in Youngstown should not cause so much alarm that all shale projects are halted. Drilling has gone on in Ohio for decades and our water is still clean and we are not experiencing increased seismic activity.” — Mason Standish, retired real estate broker, Urbana.

* “Natural gas is not a clean fuel like the gas companies want you to believe. It may burn cleaner than coal, but the process to get it out of the ground is just way too dangerous. After the gas and oil industry gets done destroying our land, waterways and livestock, the jobs will be gone and Ohio will be far worse off than we have been since the coal boom.” — Rashawna Eastman, Ohio State University graduate student, Columbus.

* “The shale boom is just barely getting started and already it is helping the Ohio economy. People who were in danger of losing their homes have been able to get back on track by leasing mineral rights or selling vacant land to gas companies. Restaurants and small businesses are making more sales because people are working in natural gas related jobs. We need to monitor fracking safety to be sure, but it is not a new process and has never contaminated a waterway in Ohio.” — Lenny Sweringern, small business owner, Mansfield.

You can skip to the end and leave a response. Pinging is currently not allowed.

Leave a Reply

Powered by WordPress | Designed by: Premium WordPress Themes | Thanks to Themes Gallery, Bromoney and Wordpress Themes