ACC asks Congress to help avert US natural gas crisis

The American Chemistry Council, representing industrial users of natural gas, has called upon President George W. Bush and Congress to take steps to avert what ACC calls "a looming natural gas crisis."As natural gas prices increase, the costs of most other goods also will increase, the ACC said, adding that every recession since World War II has been preceded by a run-up in energy prices.The March contract for natural gas surged to a record high of $11.89/Mcf in overnight electronic trading Feb. 24 on the New York Mercantile Exchange before stalling early in the next trading session at $10.10/Mcf—the previous record set in December 2000."Every major recession in modern American hist...

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