Real Natural Gas Prices Lowest Since July 1995
As Scott Grannis commented, "If there is any reason to be optimistic about the future of the U.S. economy, [falling natural gas prices] is arguably the best."
Professor Mark J. Perry's Blog for Economics and Finance
To the students in the NetPlus! MBA program at the University of Michigan, Flint campus, who are enrolled in MGT 551 (Business Economics) for the spring term 2012 which started last Saturday (March 3):
WALL, N.J. -- "New Jersey Natural Gas (NJNG) today notified the New Jersey Board of Public Utilities (BPU) that it will implement a decrease to its Basic Gas Supply Service (BGSS) rate that reduces the average residential heating customer’s bill by 3.6 percent and provide a bill credit, totaling $11.8 million, for residential and small commercial customers. These savings come in addition to the bill credits NJNG provided in December, January and February. Over the four-month period, customers will have saved a total of $94 million."
The website Priceonomics claims to be "the price guide for everything."
From today's Employment Report:
I'm reminded of that old joke about the young boy who says to his father, "Dad, I want to grow up and be a musician!" The father responds "Well son, you can't do both."
Business Insider -- "Ten years ago Williston, North Dakota was a quiet agricultural town with a population around 12,000. Today, because of oil prices and drilling advancements, Williston is home to America's biggest oil boom and its residents number over 30,000.
The "Economic Miracle State" of North Dakota pumped another record amount of oil during the month of January at a daily rate of more than 546,000 barrels, which was an increase of 2% and 11,000 barrels per day compared to January, and was 59% above the output level from a year earlier. It’s likely that the new record moved the Peace Garden state ahead of California to become the nation’s No. 3 oil-producing state in January, behind only Texas and Alaska. Recent estimates put California’s oil output at about 535,000 barrels per day, and Alaska’s production at 593,000. If North Dakota continues to increase monthly output at the current rate, it could surpass Alaska by April to become the No. 2 oil-producing state.
"Every politically controlled educational system will inculcate the doctrine of state supremacy sooner or later. . . . Once that doctrine has been accepted, it becomes an almost superhuman task to break the stranglehold of the political power over the life of the citizen. It has had his body, property and mind in its clutches from infancy. An octopus would sooner release its prey. A tax-supported, compulsory educational system is the complete model of the totalitarian state."
Last year ended with another record-setting month for the world's largest natural gas producer, as the U.S. produced all-time record amounts of both gross withdrawals and dry production (consumer-grade gas) in the month of December, according to new data released this week by the Energy Information Administration (see chart above). The record-setting gross volume in December (2.56 trillion cubic feet) was above its year-earlier level by 7.1%; and the all-time high for monthly dry gas production was 8.2% above last December, and surpassed two trillion cubic feet for only the second month ever.
Bismarck Tribune -- "Oil field clothes can tear up a washing machine. Several Bismarck laundry businesses have had to close their doors to workers but others are building their businesses around the boom.