Govenor seeks probe in natural gas price spike

Gov. Jon Huntsman Jr. has called on federal agencies to investigate recent spikes in prices of natural gas.

Sticker shock over December’s heating gas bills have prompted dozens of Utahns to call the Governor’s Office for an investigation as to whether natural gas prices were being manipulated by commodity traders.
“The U.S. Energy Information Administration indicates that there are adequate gas supplies for this winter, despite hurricanes and cold weather in some parts of the nation; yet prices continue to rise,” Huntsman said in a statement Friday. “I am concerned that manipulation could be occurring. I am asking our federal regulators, who are tasked with monitoring the markets, to ensure that they are working properly and in the best interests of consumers of natural gas.”

On Friday, Huntsman called on the Federal Energy Regulatory Commission, the Commodities Futures Trading Commission and the U.S. Senate to investigate the recent rise in gas prices.

Herald Extra (Utah)