Energy: Natural Gas Up

More cost, less drilling

Congress dangled a most attractive carrot before the eyes of gas producers when it passed the contentious and convoluted Natural Gas Policy Act late last year. Unfortunately, gas producers ate the carrot, and are now using the stick on U.S. consumers. The bill, which went into effect on Dec. 1, relaxed the ceiling on domestic natural gas prices, allowing them to rise closer to world market levels. Congress hoped that this would encourage producers to find more gas. Not so. In January and February, the number of wells drilled declined by 7% compared with the equivalent period a...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!