According to Peakoil-> Goldseek
The situation appears to be so bad that the old Fed Head Alan Greenspan testified twice before the congressional committee on this issue. In June 2003 he made the following statement in front of them “Yesterday the price of gas for delivery in July closed at $6.31 per million British thermal units (Btu). That contract sold for as low as $2.55 in July 2000 and for $3.65 a year ago.” He was trying to illustrate that demand had increased so much and supplies were extremely tight; hence the market was ripe for an extreme move. It appears that so far they have paid very little attention to him. Perhaps when this contract trades in the 9.00-11 dollar ranges they might start to pay attention.
See more at Goldseek
- The world is going to see a much higher LNG prices in future….so what is OUR future?
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