IECA: US 'natural gas crisis' began in mid-2000

Washington, DC-based Industrial Energy Consumers of America (IECA) sent the US Congress a report showing that natural gas prices increased 83% during a 41-month period, costing consumers more than $111 billion. IECA is a nonprofit organization promoting the interests of manufacturing companies.Saying that the "gas crisis" started in June 2000, the report compared the current 41-month Henry Hub price with the previous 41 months.The 41-month average price from June 2000 to October 2003 was $4.34/MMbtu. The previous 41-month average price from January 1997 through May 2000 was $2.37/MMbtu."This means consumers paid $1.97/MMbtu more for natural gas during the natural gas crisis, an 83% increa...

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