Natural Gas Booms: Is History Doomed to Repeat Itself?

With all of the attention that the fracking industry has been receiving over the past few years, is anyone paying attention to the some of the trends that are emerging? We all know that history often repeats itself and with the fracking industry, it could be very well doing so again.History’s Lesson of Natural Gas Let’s take a trip back into the past and take a look at the mining companies that once existed in Wellsboro, a small quiet town in northern Pennsylvania. The mining industry had just taken off, and wells were being drilled everywhere to access the natural gas that laid beneath the Earth’s surface. With hundreds of wells drilled in a relatively short amount of time, the local economy boomed and prospered in a way that had never been seen before, making it very reminiscent of the gold rush.If you were to visit that town today, you’d hardly know that there was once a booming hydraulic fracturing industry. Natural gas prices hit $13.42 per million BTU in 2005 and stayed
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