Why Cheap Natural Gas Is History
With shale gas production declining and conventional gas having been in terminal decline for the past 15 years, the supply surplus that has existed since December 2014 has disappeared and a supply deficit began in January 2017.
Full article: http://oilprice.com/Energy/Natural-Gas/Why-Cheap-Natural-Gas-Is-History.html
Shale gas magical thinking remains strong but the paradigm of infinite, cheap supply is no longer working. There is now too much demand between power consumption and exports to keep up with declining production.
Once decline begins, it is almost impossible to turn around short of a massive drilling campaign. The requisite capital and public support are simply not there.
That means that prices will increase. Enough additional drilling will become marginally profitable to keep natural gas affordable but it is unlikely the U.S. will return to a supply surplus any time soon. The exuberant days of cheap, abundant natural gas are over.