Heating customers are seeing the prices of natural gas and heating oil drop substantially this season, which a major economist says will help boost the sagging U.S. economy. But the extreme spikes and dips in prices seen over the last year are detrimental over the long term and point to the need for a national energy policy and continued focus on efficiency, say industry experts.
According to the Department of Energy’s (DOE’s) Energy Infor-mation Administration (EIA), last January the spot price for natural gas peaked at $10.00 per thousand cu ft. The average wholesale price for 2001 is expected to be $4.16 per thousand cu ft. And the EIA is projecting that the wholesale price will stay below $3.00 per thousand cu ft through 2002.