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Mon January 2, 2012
Falling prices could slow Wyoming gas development
Natural gas prices have declined steadily in recent months. The price of gas produced at the Opal Hub in south central Wyoming has dropped by about 60 cents since June.
Jim Robinson is the senior economist for the state Economic Analysis Division. He says gas development has grown in Wyoming, but it’s increasing drastically in other states as well, including Pennsylvania and New York.
"We have certainly a lot more supply than a year ago, and we really haven’t started our cold weather heating season, yet, either, and so, we have a lot of gas in storage," Robinson said. "And all those things together are keeping prices down."
Robinson says this could mean natural gas development in Wyoming will slow down.