Summer Heat Means Good News For Natural Gas ETFs
We're right in the heat of summer and most Americans are looking for a spot to cool down. This means more energy consumption which in turn has caused greater interest in the natural gas exchange-traded funds (ETFs).
The significant increase in the number of American households churning up their air conditioners is good for natural gas prices. The price increase will kick off sharply the seasonal trading in natural gas. This may mean higher prices for traders and consumers.
The practice of "fracking" by the natural gas industry however, may turn off any green votes toward the commodity. The industry is now acting to manage any PR crisis that may come out of it.
Range Resources Corporation (NYSE: RRC) has voluntarily revealed the chemicals it injects into the ground. This can signal other drillers to do the same, so that they can get ahead of the issue to prevent the Federal Government from breathing down their necks about the key drilling practice called hydraulic fracturing, or fracking.