With natural gas production in the U.S. having dropped two months in a row, prices have soared to the lofty level above $2/Mcf. Champagne corks are popping all over the Southwest. Well, maybe Champale. (And the various Lynch wells in West Virginia might start paying royalties again. At least enough for me to afford Champale.)
But the shale revolution has meant another upheaval in the availability of resources, creating yet more confusion about long-term prices. As so often in the past, there seem to be two camps, optimists and pessimists, and not much middle ground.
