As gas prices are regionalised around the world, the sharp cut in US gas prices has not been seen in Europe or Asia.
Despite the sharp fall in natural gas prices in the U.S. caused by rising production from shale and other unconventional rock formations there was a time when early investors in shale gas made fat profits, a process which is being mirrored in Australia.
While the plunge was more abrupt with Patriot, comparable coal credits have also seen sharp declines amid historically low natural gas prices and a regulatory environment that is pushing a coal-to-gas transition.
FORBES: Coal credits pressured by regulatory issues, coal-to-gas transitions
But I think the point that we want to make is that we're very cognizant of the fact that Americans are experiencing a sharp rise in prices at the gas pump, and that affects them and their family budgets.
The company blamed the rises on a sharp rise in the wholesale cost of gas.
Much of the uptick in production is a direct result of the sharp decline in the price of natural gas which has been largely triggered by the unprecedented growth in shale gas production.
FORBES: Surprise Side Effect Of Shale Gas Boom: A Plunge In U.S. Greenhouse Gas Emissions
Shale gas also helps to explain the sharp drop in US oil imports forecast by the EIA in the next two years.
Meanwhile, Turkey's mercurial prime minister, Recep Tayyip Erdogan, is hinting at war over Greek-Cypriot drilling for gas off Cyprus's southern coast, prompting a sharp rebuke from the Americans.
Cummins notched a sharp drop in quarterly profit, driven lower by decreased demand from oil, gas and mining customers.
FORBES: Cummins Hurt By Oil, Gas And Mining Slowdown; Q1 Profit Down 38%
In 2008, the economy weakened and power generation from natural gas and renewables began to increase, a combination that led to a sharp reduction in emissions.
WSJ: Rise in U.S. Gas Production Fuels Unexpected Plunge in Emissions
More starkly, there were sharp declines in the production of steel pipes (15.5%), gas turbines (36.8%), excavators (13.7%), and electric motors.
FORBES: Russian Industrial Production Increases by 4% over 1st Quarter 2011
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