U.S. natural-gas production hits new record; price of gas is 85% lower than 2005! Fake-news media ignores

Very few Americans have any idea what a fabulous luxury it is to be able to heat your house or shower water by turning a knob or pushing a button instead of walking a few miles to find firewood, then chopping it into small enough lengths to fit in your stove.

That lack of appreciation is one of the reasons a frightening number of college-age Americans foolishly believe socialism is better than free markets.  Stupid, stupid, stupid.

So consider the following facts:  Last month U.S. natural gas production set an all-time production record.  This is after gas production had peaked in 1972, when natural gas sold for about 60 cents per thousand cubic feet.  The price rose every year after that, peaking in  September of 2005 at $18.95 per thousand cubic feet.

If not for free markets and capitalism, the price of natural gas--the stuff that heats your home and hot water--should have continued to rise, like college tuition or the price of medical care.

Did the price of natural gas keep rising?  No.  Thanks to the magic of free markets and capitalism, last week prices hit a new annual low of $2.56 per thousand.  That's 85 percent lower than the 2005 peak.  

But of course you didn't hear about that (unless you're in the business or read the Wall Street Journal)--because the lying Mainstream Media decided not to tell you.  You might ask 'em why they didn't think this story was important.



The price of natural gas dropped NOT because Americans have reduced their use of the stuff, but because U.S. oil and gas producers are producing record amounts of it.  The price is obeying the well-known laws of supply and demand.

Well, those laws should be well known by every American school kid.  The fact that virtually no high school grad knows jack-shit about those principles should be grounds for firing every school administrator and school board member.

So what caused the huge increase in gas production?

Free market capitalism.  Back in 1973 Democrats in congress (spit) got incensed because energy prices were rising--a result of the OPEC oil embargo.  So they passed the Natural Gas Pricing Act, which set the maximum price producers could charge for gas ($3 per thousand cubic feet).  As a direct result, drillers dropped plans to try to find gas that would cost more than that to produce.

Almost immediately, prices started rising, as cities and industries started bidding for expected shortages.

Whoa, who could have predicted that, eh?

Finally the Republicans repealed that ghastly law, which made it economically worthwhile for companies to explore for deeper gas.

The unleashing of free markets, and the development and use of improved "fracturing" techniques, led to ample supplies.  With the supply recovering, the price of natural gas began falling.

Remember how much?  Nah, you probably don't.  It's down 85 percent from its peak in 2005.

This is nothing short of a miracle, and yet the Lying Mainstream Media didn't think it was worth telling you about.  Because they hate capitalism and free markets and Trump.

But they love low energy prices, eh?

Hypocritical, lying rat-bastards.  They'd rather tell you about them giving themselves Pulitzer prizes for their hysterical, fake-news articles about how Trump colluded with Putin to steal the election from their queen.

H/T American Thinker.