Natural gas prices hit a 5-year high this week in response to news that another bout of extreme cold weather will hit the Northeast and Midwest in coming days. Previous cold snaps this winter have led to record consumption of natural gas, which in turn has drawn down reserves. In response, prices have climbed more than 40 percent since the beginning of the year, reaching over $6 per million BTU Wednesday.
Doug Hock is a spokesman for Encana, the largest natural producer in Wyoming. He says the upswing is a welcome change of pace, after years of low prices.