POSTED: 5:54 pm CST January 3, 2011 UPDATED: 8:22 pm CST January 3, 2011 A piece of bad news for drivers could be a piece of good news for the natural gas industry in the area. The former president of Shell Oil recently predicted gas prices in the $5 range by 2012. Obviously that sounds painful, but experts say those sky high prices could encourage more consumers to switch over to compressed natural gas. But it's not just the everyday consumer that could eye natural gas, large manufactures and energy producers could be more interested also. More demand for natural gas means more revenue to state and local governments. In fact, in the fiscal year of 2009-2010, Louisiana collected $870 million dollars in taxes from the oil and gas industries.
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Source: "Natural Gas Prices" via Glen in Google Reader
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