NATURAL GAS BUBBLE BURSTS AS DRILLING BOOM EXPLODES

NYTIMES: Drilling Boom Revives Hopes for Natural Gas

HOUSTON — American natural gas production is rising at a clip not seen in half a century, pushing down prices of the fuel and reversing conventional wisdom that domestic gas fields were in irreversible decline.

The new drilling boom uses advanced technology to release gas trapped in huge shale beds found throughout North America — gas long believed to be out of reach.

... Domestic gas production was up 8.8 percent in the first five months of this year compared with the period a year earlier, a rate of increase last seen in 1959, during the great drilling boom that followed World War II.

... Domestic natural gas prices have already plunged 42 percent since early July, an even faster drop in price than oil or most other commodities, in part because the rapid supply growth has begun to influence the market.

WE COULD DO THE SAME TO OIL - OF THE DEMOCRATS WOULD LET US!