For a decade, natural gas has been the fuel to love. It's clean, plentiful and found close to home. Most important, it was cheap. At the very least, they are raking in billions of dollars.
Supplies remain tight.
If the summer is a hot one, prices could again soar. Despite greater risks of occasional price spikes, MacAvoy said, a free market provides lower prices and adequate supplies in the long run. President Bush's energy plan, expected to be released next month, will stress expanding natural gas production and building new pipelines. Experts agree it will be years before those efforts significantly influence the gas market. Meanwhile, demand will continue to rise, especially for generating electricity.