This morning I was reading an article about natural gas prices being lower this winter season by about 40% in Kentucky. The article also stated that these prices are the lowest they have been in six years. I am going to guess that these lower prices may be lower for all of us in the U.S. as well, though I am not sure exactly how much lower our bills will be.
But what struck home for me was this one statement:
Behind the decrease is a sharp drop in the wholesale price of natural gas that PSC Chairman David Armstrong said was “artificially high” last year due to what many consider to have been speculative investing in the commodity.
Sounds familiar doesn’t it? Isn’t this the same reason gas prices hit almost $4 a gallon or more? Isn’t this the same reason that California ended up paying triple the cost for electricity when suppliers conspired to cut supplies?
Isn’t it time we stop the practice of commodity investment where few can control the lives of many? When money in the hands of a few is more important than the lives of millions?
Let me know what you think.