For almost the entire time I’ve been editing the Dick Davis Digests, experts have been predicting that natural gas prices would rise. Their reasoning is that, per dollar, you can currently produce much more energy from natural gas than from oil. Since the energy produced by each is indistinguishable, the experts argue that the cheaper fuel should gain popularity, even driving its price up into parity with oil’s. Economically, of course, their argument makes sense. But due to a variety of real-world factors–existing infrastructure for using the two fuels, and the relative growth in the supplies of oil and...
