People can't make their mortgage payments?
Maybe part of the answer lies in the huge run-up in Natural Gas Prices.
A new report studies the stress. Money quote:
Residential customers' payment difficulties directly affect the financial health of many LDC [local distribution companies]. According to NRRI, average arrearages for natural gas utilities have trended upwards since 2001, with account terminations as a percentage of total accounts steadily increasing over the same period.
Price Rises since GOP in 2000
Residential, 105%
Commercial, 100%
Industrial*, 118%
Electric*, 133%
Wellhead, 161%
*from Jan 2002, others Jan 2000
A NatGas Primer.
In the midwest ...
After the GOP-led, controversial 2002 FERC decision to stop insisting on open access, among other things, pipeline construction has decreased in every year since! Of course, it is all supposed to turn around in the next few years, IF you believe the projections.
Plans to "get more" by leasing areas in the Gulf and off-shore Alaska (and Virginia) are now well developed. This, of course, is all quite late in the game, yes?
