Political Quotes

On the recordJune 5, 2008
I think we are going to be forced into innovation. That is good. But I will have to say the current prices of driving a vehicle and heating a home this year in my rural district are going to be prohibitive for some people being able to handle it. Their budgets are not prepared for the prices. Because as we have felt the oil prices, natural gas only increased marginally last year, but today the price for natural gas out of the ground is $12 and 40- some cents. Last year at this time, it was between $6 and $7. We are approaching a doubling of natural gas prices. At this time of the year, we don't use a lot of natural gas because we are not cooling much and we are not heating hardly anything. So we have surplus. We are using it for industrial purposes, which is big, and to generate electricity and to run our plants, but we are not using it at the home as much. So this is the time of year we normally put it in the ground. Last year, we were putting $6 and $7 gas in the ground. This year, it's currently, in the last few months, $11, now $12 gas, and seems to be going up a few pennies every day. So we don't know where that is headed. But the fear is we have a storm in the Gulf, which always interrupts supply, we could have $15, $16 gas, and that would make home heating almost impossible next winter.
Said by
John W. Peterson
Pennsylvania

Editor's note · Context

Discussing rising natural gas prices and their impact on rural households.

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