Natural Gas Prices Rebound After Historic Lows

The Associated Press reports natural gas prices have rebounded from historic lows. According to new federal energy data, the price of gas has topped $4 per thousand cubic feet.
A warm winter and high production sent prices below $2 per thousand cubic feet just a year ago:

Gas drilling companies are obviously happy with the rising price, and so are leaseholders and states that get revenue based on the market price. But the coal industry and renewable energy advocates are cheering the news, too, since gas no longer has a huge price advantage over those other energy sources.

The average wholesale natural gas price fell by 31 percent in 2012 compared to the previous year, according to the U.S. Energy Information Administration.
That price drop meant Pennsylvania took in three percent less in shale gas impact fees this year, under its year-old Act 13 law.

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