Friday, July 20, 2012

Priceless

I was reading the Wall Street Journal this evening when I happened upon an article, "Gas Prices Get Hot, Highest in Six Months." Natural gas prices have been inching up toward $3/MMBtu (and crossed over today) after half a year in the $1 and $2 range.  Toward the end of the article, I read this:


I love it:  natural gas prices of $3/MMBtu described as "lofty" and at "nose-bleed heights." I certainly don't suggest that gas has much room to run above $3, but it wasn't that long ago that prices below $4/MMBtu looked horrible.  I guess we've gotten so used to low prices that upward movement can make gas look "hot," especially a 64% gain from a sharp bottom three months ago.

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