Page added on July 31, 2006
Dark as a Dungeon
by
Dale Allen Pfeiffer
Introduction
In the wake of the recent mining tragedies in West Virginia, let
Then natural gas prices surged upward as supplies became difficult to obtain. Overnight, the power companies awoke to the truth: natural gas may be abundant in the world, but in North America, production is already diminishing. On top of this, the electrical utilities had to compete for natural gas with the winter heating demand, and the market in natural gas was extremely sensitive to severe weather, whether it be a heat wave in the summer, an unusually cold winter, or hurricanes in the Gulf.
Suddenly, natural gas prices were rising and power utilities began scrambling for alternatives. Given the high price and long construction periods for nuclear plants, and the unreliability and unsuitability of renewables
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