(Plentiful) Natgas winter costs seen up 10 to 30 percent

[Nambe]

Source: Reuters

While U.S. natural gas supplies will be plentiful this winter, gas heating costs for households will still increase 10 to 30 percent compared with last winter, the American Gas Association said on Monday.

"While natural gas prices have declined substantially since reaching their all-time highs in early July, they are still higher than they were at this time last year," said Chris McGill, AGA's managing director for policy ...

Read more: http://www.reuters.com/article/domesticNews/idUSTRE4953XG20081006?feedType=RSS&feedName=domesticNews&rpc=22&sp=true

[phantom power]

1. Investment in NG infrastructure is a trap we are rushing into.

[torbird]

2. It's already happened: It's a TRAP!

See above!!11!!11111!!

[pattmarty]

3. What the fuck ever happened to the free marketeers..........

.........law of supply and demand? I thought the more of a commodity available, the price would come down to meet at an equatable point. Is that "law" now fucking null and void????

[WriteDown]

4. Reading the article helps....

A lot of good news here.

"Because utilities purchase natural gas from suppliers throughout the year and store it in underground facilities for winter delivery, much of the natural gas utilities will deliver to households this year was purchased when prices were at or near these historic highs," McGill said at a briefing on the upcoming U.S. winter heating season.

The AGA pointed out that there will be more government help to pay the heating bills of the needy this winter. Congress doubled funding for the Low Income Home Energy Assistance Program, known as LIHEAP, to $5.1 billion to help poor families and senior citizens cover their heating costs.

As a result, the number of families that can get assistance under the federal program will rise from 5.8 million to 7.8 million, and the level of heating costs that will be covered should average 50 percent this winter, up from 36 percent last year."

[formercia]

5. Had a robo call from T. Boone Pickens today.

He must have the Natural Gas market sewed-up.

I didn't listen to it but it felt good to hang up on that old pirate.