The Nation: How High for Decontrolled Gas?

No matter which proposal Congress finally accepts on natural gas, prices will almost certainly go up. How much, no one knows for sure. About half the homes and 40% of the industries in the U.S. use natural gas. The current federal price ceiling is $1.47 per thousand cubic feet (m.c.f.) for gas that is sold across state lines. Gas that is produced and sold within the same state is not subject to federal price controls and fetches anywhere fron $2.00 to $2.25 per m.c.f.

Two thirds of the retail price of natural gas covers the cost...

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