Natural gas priced below $2 for a thousand cubic feet returned to America on July 3 and July 5 at the Marcellus Northeast trading hub. That's about $1.50 less than gas traded at the Henry Hub in Louisiana, making the Marcellus gas a tremendous bargain.
Gas priced below $3.50 knocks out substantial coal-fired electric generation. Gas priced below $2 sets off an avalanche of switching from coal to gas for electricity.
The recent price decline of gas from above $4 will slow the market share gains coal made at the expense of gas from November 2012 through April 2013.