Where are natural gas prices headed?

Rising demand, tight U.S. supplies have sent prices soaring

As anyone who heats their home with natural gas knows, recent price increases are beginning to make gasoline look downright cheap. As demand shows no signs of slowing, natural gas producers are scrambling to bring more product to market.

To ease the crunch, dozens of new projects are under way to produce and ship more liquefied natural gas, but those will take years to complete. In the meantime, ConocoPhillips
No one knows just how high prices will go this winter. Last month, analysts at brokerage firm Raymond James told clients cold weather or supply interruptions could push natural gas as high as $20 per thousand cubic feet. But if supplies hold up and the weather remains mild, gas prices could be near their peak. (Prices typically fall in late winter as temperatures begin to rise and demand starts to ease.) Prices have been volatile this fall but have not budged much since reaching their highs in September.

In announcing the company