My, how quickly some things can change, almost overnight, like natural gas markets. It seems only a year ago we had more natural gas than we could consume, as far as the eye could see. Barely three years ago, I wrote that Permian Basin oil production resulted in flaring off $1 million worth of natural gas per day, during rock bottom prices even. That was enough to fuel 2,500 MW of electricity generation. Customers are pissed off about soaring heating costs, which are 50% higher than a year ago. The chart below shows the NYMEX commodity price for natural gas…
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