The congressman and his colleagues were told that previous low demand had reduced the number of operational natural gas drilling rigs to 392 in 1999. The recent boom in the economy, coupled with regulatory policies favoring the growth of natural gas-fired electricity generation and the unusually cold winter, outstripped the nation s natural gas supply, the committee members were told. I understand that the same market forces keeping prices low for so long are the same forces causing the increases, but we need to find ways to protect ratepayers in run-away markets. We also need to make sure our nation s energy and environmental policies don t discourage the use of other fuels. Our economy, after all, shouldn t be so dependent on a relatively small number of fuel sources.
Good news is on the horizon, though.
Today more than 800 natural gas drilling rigs are in operation to increase supplies. And with winter nearly over, the demand for natural gas, as well as the price, has decreased. The federal government has also expedited applications to construct new pipelines that will distribute the additional gas supplies. Meanwhile, eligible Middle Tennessee families who cannot pay their heating bills can seek financial assistance through various community action agencies and church organizations.