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Weather, low storage, drive up the price of natural gas

December 4, 2018

CASPER, Wyo. (AP) — Prices for natural gas have shot up recently with the Opal trading hub in southwest Wyoming climbing to near $7 per million British thermal unit on Monday.

Higher natural gas prices mean more tax money for the state of Wyoming’s coffers. But experts say it’s likely a temporary situation.

State economist Jim Robinson says for higher gas prices to move the needle for Wyoming revenue on a statewide basis the price would have to be sustained over a long period of time.

But Robinson tells the Casper Star-Tribune that the current high prices are a short-term situation because natural gas is a plentiful resource.

The Energy Information Administration says proved reserves of natural gas recently hit a record high in the country, climbing by 36 percent from 2016 to 2017.

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Information from: Casper (Wyo.) Star-Tribune, http://www.trib.com

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