-Caveat Lector-
Gas Pains
The saga of natural gas is perhaps the 20th century's best
illustration
of how government solves problems.
In the '50s natural gas was plentiful and cheap.
Oil well operators commonly flared gas to get
rid of it. Enter the federal government. It
imposed price controls to protect consumers.
It must have worked. Prices remained low and
the supply plentiful.
Owners of gas fields continued to sell for whatever was
allowed. By
the mid '60s it was all but impossible to drill profitable
gas wells
while selling at the controlled price. Drilling stopped.
http://www.admccallum.com/97COL/C-27GAS.HTM
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