The media has widely recognized the huge rally in oil for a while now.. probably because of its relationship to the Iraq story.
But natural gas has made an equally huge move, in shorter time, with less fanfare. Nat gas was in the $6’s in May.. Now in the $14’s.
The rally has happened so quickly, utlity companies — who you’d think would benefit — are actually in a pinch..
An article in Lexington’s Herald-Leader newspaper noted:
“If the Kentucky Public Service Commission approves Columbia Gas’ rate increase request, the price of natural gas would go from the current $9.40 per thousand cubic feet (Mcf) to $12.31 per Mcf effective Oct. 27.”
The gas company’s regulatory requests can’t even keep up with this rally! While I’ll certainly not be happy when a large gas bill arrives.. even with the price hike, we’re actually getting a bargain.
