US natural gas crisis seen looming on the horizon

A natural gas crisis is brewing, with too little new North American supplies coming on stream to significantly affect rapidly growing demand.Supply and demand dynamics are shaping up for trouble, especially for a peak demand period in early spring.So concluded Dain Rauscher Wessels Inc. analysts late last month at the firm's annual energy conference in Houston. Producers and service company executives at the conference said they see US upstream activity increasing through 2001 and beyond, primarily as a result of growing domestic demand for natural gas and a slower recovery of international oil markets.However, a sharp increase in US gas drilling has done little to allay concerns over...

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