Natural gas prices rise from historic lows - WFMJ.com News weather sports for Youngstown-Warren Ohio

Natural gas prices rise from historic lows

Posted: Updated:

PITTSBURGH (AP) - Wholesale natural gas prices have doubled over the last year, and that's bringing sighs of relief from an unusual variety of interests.

According to federal energy statistics natural gas topped $4 per thousand cubic feet in early April, after falling below $2 a year ago.

Gas drilling companies are obviously happy, and so are leaseholders and states that get revenue based on the market price. But the coal industry and renewable energy advocates are cheering the news, too, since gas no longer has a huge price advantage over those other energy sources.

But a new drilling boom isn't imminent.

The Marcellus Shale Coalition, an industry group, says current prices will have to be sustained for months or years for companies to drill significantly more wells than they are now.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

  • More From wfmj.comHot ClicksMore>>

  • AP-NORC Poll: For many online Americans, Facebook is a habit

    AP-NORC Poll: For many online Americans, Facebook is a habit

    Thursday, April 26 2018 1:48 PM EDT2018-04-26 17:48:06 GMT
    (AP Photo/Mark Lennihan, File). FILE- In this Jan. 13, 2016, file photo, Icons for Twitter, Instagram, Facebook and Pinterest are displayed on a window in New York. A new poll by the Associated Press-NORC Center for Public Affairs Research says 12 perc...(AP Photo/Mark Lennihan, File). FILE- In this Jan. 13, 2016, file photo, Icons for Twitter, Instagram, Facebook and Pinterest are displayed on a window in New York. A new poll by the Associated Press-NORC Center for Public Affairs Research says 12 perc...
    Nearly half of Americans who use the internet say they use Facebook at least several times a day, with Facebook-owned Instagram coming in No. 2 among social media sites.More >>
    Nearly half of Americans who use the internet say they use Facebook at least several times a day, with Facebook-owned Instagram coming in No. 2 among social media sites.More >>
  • AP-NORC poll: Privacy debacle prompts social-media changes

    AP-NORC poll: Privacy debacle prompts social-media changes

    Thursday, April 26 2018 3:10 AM EDT2018-04-26 07:10:30 GMT
    (AP Photo/Jeff Chiu, File). FILE - In this March 26, 2018, file photo, a man poses for photos in front of a computer showing Facebook ad preferences pages in San Francisco. If you’ve made changes to how you use social media since Facebook’s Cambridge A...(AP Photo/Jeff Chiu, File). FILE - In this March 26, 2018, file photo, a man poses for photos in front of a computer showing Facebook ad preferences pages in San Francisco. If you’ve made changes to how you use social media since Facebook’s Cambridge A...
    AP-NORC poll: Facebook's privacy debacle prompts social-media cutbacks.More >>
    AP-NORC poll: Facebook's privacy debacle prompts social-media cutbacks.More >>
  • Correction: Waffle House Shooting-Gunman story

    Correction: Waffle House Shooting-Gunman story

    Wednesday, April 25 2018 1:19 PM EDT2018-04-25 17:19:38 GMT
    (Lacy Atkins/The Tennessean via AP). In this Monday, April 23, 2018 photo, Travis Reinking, suspected of killing four people in a late-night shooting at a Waffle House restaurant, is escorted into the Hill Detention Center in Nashville, Tenn., Monday, ...(Lacy Atkins/The Tennessean via AP). In this Monday, April 23, 2018 photo, Travis Reinking, suspected of killing four people in a late-night shooting at a Waffle House restaurant, is escorted into the Hill Detention Center in Nashville, Tenn., Monday, ...
    Waffle House gunman's erratic behavior began years before Tennessee restaurant attack.More >>
    Waffle House gunman's erratic behavior began years before Tennessee restaurant attack.More >>
Powered by Frankly
All content © Copyright 2000 - 2018 WFMJ. All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms