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B4 The Bell Tuezelday July 20


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Here is the Economy killer- Page one story in the Financial Post "Natural Gas crisis looms, Study warns" U.S. based Cambridge Energy Research Associates says the study was done to alert people to the expected NG crisis in which prices will hover between $6 and $7 per thousand thermal unit until at least 2008 and 2009. Prices could go even higher if there are unusual weather patterns. Supplies of NG from Canada's MacKenzie Delta will not come into the market in time to head off the price crunch as U.S. domestic production continues to fall. The article goes on to point out U.S. electricity producers will be forced to shut down plants as 94% are gas driven. "Residential and commercial customers will see higher bills impacting pocketbooks and the economy-North America will experience the highest sustained prices in the Industrys history, the study concludes."

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Same article "The worst immediate problem confronting the United states is not Oil but Natural Gas" write Julian Darley, author of "High Noon for Natural gas-the New Energy crisis"..."Oil can still be easily imported he argues. Natural Gas, on the other hand cannot be imported on demand; it requires planning long in advance....Although Oil will decline Globally before NG, because of the transport difficulties, it will be NG shortages that hit first."

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