Natural Gas Output Down, Prices Up
Natural gas producers are scaling back output, boosting historically low prices, the Wall Street Journal reported.
Natural gas production took its biggest percentage drop in a year in February, the paper said in a front-page story on May 3. Futures prices jumped 18% since April 19, reaching $2.253 per million British thermal units on May 2.
Analysts said production decline could be the beginning of a trend that would alleviate what has been an oversupply.
Truck and engine makers at the Mid-America Trucking Show in March said they see natural gas becoming a more widely used alternative to diesel fuel.
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