Abundant, affordable natural gas is providing significant benefits to American consumers. That’s the takeaway from a couple of new U.S. Energy Information Administration (EIA) reports. First, EIA says U.S. natural gas prices last year were at their lowest level in nearly two decades: Here we see natural gas spot prices in 2016 averaged $2.49 per million British thermal units (MMBtu) at the national benchmark Henry Hub. It’s the lowest annual average since 1999. EIA says this reflects warmer-than-usual temperatures most of the year and changing demand. It’s also about available supply – the result of America’s energy renaissance.
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