Feb. 10 (Bloomberg) -- U.S. natural-gas production is unexpectedly rising even as energy companies halt drilling at the fastest pace in more than two decades because newly found fields are gushing more fuel than previous discoveries.
The price of gas, the worst-performing U.S. energy futures contract of 2009, is on the verge of further declines when colder-than-normal weather and blizzards that have propped up demand from Chicago to Baltimore come to an end, said Porter Bennett, chief executive officer of Bentek Energy LLC, which tracks North American gas output and shipments.
Read more: http://www.businessweek.com/news/2010-02-10/natural-gas-pipe-dream-won-t-cut-glut-weighing-on-u-s-price.html
The price of gas, the worst-performing U.S. energy futures contract of 2009, is on the verge of further declines when colder-than-normal weather and blizzards that have propped up demand from Chicago to Baltimore come to an end, said Porter Bennett, chief executive officer of Bentek Energy LLC, which tracks North American gas output and shipments.