"Gasoline: 70 percent off", by Newt Gingrich, Human Events, 3/7/2012
http://www.humanevents.com/article.php?print=yes&id=50008
"... the price of natural gas has collapsed, largely due to an enormous increase in American supplies made possible by new discoveries and technologies ... The reversal comes thanks to the shale gas revolution, improvements in technology that have made it possible to retrieve the natural gas trapped in shale. In the period of just a few years, our estimated supply in North America has gone from less than a decade’s worth of gas left to more than a century’s worth."
He is right that natural gas prices have plummeted 70%. Just in January, 2006, natural gas was selling for $8.01 per 1,000 cubic feet.
-----------------------------------
NEWS BRIEF: "Natural gas prices drop sharply on bulging supply", Yahoo Financial News, March 8, 2012
http://news.yahoo.com/natural-gas-prices-drop-sharply-bulging-supply-162152920.html
"Natural gas is falling sharply after U.S. supplies declined less than expected last week. Natural gas dropped 4.9 cents Thursday to $2.253 per 1,000 cubic feet, its lowest level in a decade. A mild winter has caused weak demand for natural gas, which is used to produce electricity and heat homes. There also is a huge increase in supply because producers are accessing more underground reserves."
NEWS BRIEF: "Shale boom turns North Dakota into No. 3 oil producer", Reuter's News, March 8, 2012
http://www.reuters.com/article/2012/03/08/us-oil-output-bakken-idUSBRE82714V20120308
"North Dakota has overtaken California as the third-largest U.S. oil-producing state, as the controversial fracking technology boosted shale oil output and cut the Midwestern state's unemployment rate to the lowest in the country ... The state's January oil output rose to 546,050 barrels per day (bpd), up 59.2 percent from a year earlier, after output in the Midwest state's Bakken and Three Forks shale prospects rose some 11,000 bpd to a record 480,700 bpd ... North Dakota, located along the Canadian border, has upended the U.S. oil market since 2007 and its output has eclipsed that of OPEC member Ecuador thanks to advances in horizontal drilling and hydraulic fracturing. Production has doubled in the three years since 2009."
----------------------------------
Speculators -- most speculators have jumped on anything and everything to keep prices spiking upward. I wonder how many of these "speculators" are central banks/bankers??? Could any of them be our beloved Congress???
Whenever prices begin to slide lower, we hear that a pipeline has exploded, or that rebels have kidnapped oil workers or that American inventories are "unexpectedly" lower.
The manufactured crisis with Iran -- Since 2003, American and NATO leaders have been threatening to attack Iran's nuclear facilities. Every time oil prices begin sliding, some threat against Iran is bombarded on mainstream media.
Don't you think its time to stop manipulating the American people, and using fear on the mainstream news media?