Hyped Benefits of Fracked Gas Already Fading

In January, 2012, the price of natural gas plunged to below $2/mcf due to overproduction by shale operators. Such low prices did, indeed, prompt utilities to switch fromcoalfired generation to natural gas fired generation if they had the capacity. Industry crowed that this was the shape of things to come with electricity costs plummeting for consumers and heralding the end of "King Coal."

Unfortunately, as with most aspects of unconventional shale production, this proved short lived and oversold. Glaring numbers show another picture altogether.