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The cost of gas has been volatile in recent years as markets react to world events, but it hasn't always been that way.
As the biggest Canadian gas discovery since the 1970s and its richest gas project ever, the Shell-operated Caroline field stood out as a $10 billion resource jewel. Although classified as a gas field , in the lower-price environment of the day sulfur, liquids and other by-products from the gas promised to exceed the value of the natural gas itself.
To complete the picture of the Canadian liquids business, it is worth noting that in 1977 Amoco and Dome bought the Canadian assets of Goliad Oil and Gas Company. This increased the supply of liquids available to Amoco by about 1,800 barrels per day (290 m 3 /d).
This worsened an existing glut of oil and triggered a price war. In the following year, average world oil prices fell by more than 50 per cent. This price shock took many oil companies and oil-producing states and regions into a long period of crisis. The industry's frontier operations were particularly vulnerable to the oil price collapse.
The national average price for a gallon of gasoline is at $3.43, according to AAA as of Feb. 10, 2023. While the amount of pain at the pump people feel is more or less acute depending on their ...
The chart shows a 75-year history of annual United States natural gas production and average wellhead prices from 1930 through 2005. Prices paid by consumers were increased above those levels by processing and distribution costs.
The national average price for a gallon of gasoline is a little more than $4.95, according to AAA. The pump pain is more or less acute depending on your region, but overall, everywhere in the U.S ...
In his blog entitled "Canadian Oil and Gas: The First 100 Years", Peter McKenzie-Brown said that the "early uses of petroleum go back thousands of years. But while people have known about and used petroleum for centuries, Charles Nelson Tripp was the first Canadian to recover the substance for commercial use.