July 2015, Vol. 242, No. 7

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Summer Gas Prices in the Northeast: Why So Low? Why So Unpredictable?

As summer approaches, there are two things to know about natural gas prices in the New York/New England area. First, it is a difficult time to predict gas price movements in the Northeast. But in general, prices are down – and are likely to stay that way for this summer. It’s hard to predict prices because there are a lot of new and unpredictable supply-and-demand dynamics across the country that are particularly pronounced in the Northeast. For instance, the explosion of shale gas production in the Marcellus and Utica shale regions. Production in the nearby Marcellus, based in Pennsylvania and West Virginia, has tripled in just the past three years to 15 Bcf/d, roughly 20%

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