Without a price incentive to explore and drill for natural gas, budgets for that activity have been lowered. It is a tribute to the industry that with the application of advanced technology, they have kept gas supplies flowing through the 1990's in spite of reduced drilling rig activity. Now that prices are much higher, drilling activity has increased markedly. However, new supplies that will dampen prices may not be available for at least one to two years. In the interim, consumers should educate themselves about opportunities to reduce their consumption of natural gas.
Conservation is critical.
You can cushion the impact of higher prices through conservation efforts, and in most cases, conservation can be achieved at a low cost. Winterizing homes, reducing the thermostat and purchasing energy efficient appliances provide significant benefit to consumers. Install a programmable thermostat to set the thermostat back when one is not at home or asleep. Set the hot water heater temperature at 120 degrees. Replace aging appliances with more energy-efficient ones.