Having
spent more than 25 years in the oil and gas industry I have seen my
fair share of hydro-carbon price fluctuations. So it has not come as a
complete surprise to me that the "shale gas" phenomenon has had such a
dramatic impact on North American Natural Gas prices.
At the beginning of the 21st century Natural Gas prices were about $4.00/Million BTU and thereafter they rose rapidly to $8-$10/Million BTU in the years 2005-2007. The economic crisis that started in the fall of 2008 coincided with increasing production due to the success of shale gas development which translated into a very rapid decline in Natural Gas prices to just over $2.00/Million BTU in 2012. Since then prices have recovered somewhat to about $4/Million BTU.
At the beginning of the 21st century Natural Gas prices were about $4.00/Million BTU and thereafter they rose rapidly to $8-$10/Million BTU in the years 2005-2007. The economic crisis that started in the fall of 2008 coincided with increasing production due to the success of shale gas development which translated into a very rapid decline in Natural Gas prices to just over $2.00/Million BTU in 2012. Since then prices have recovered somewhat to about $4/Million BTU.
http://www.pennenergy.com/index/blogs/the-black-swan-blog/2014/01/where_are_naturalga.html?cmpid=EnlResearchMay262014
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