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Byline: Nancy Gondo
Investor's Business Daily
In cold winters, consumers have to turn up their heaters and pay more for utilities. That's good news for natural gas producers such as Newfield Exploration Co.
With roughly 80% of its reserves in U.S. gas, the drilling company is reaping the benefits of tighter supplies and higher prices. Natural gas prices have been on a tear for nearly two years, rising from about $1.50 per million British thermal units to $9 or mor
e per MMBtu.
But the question remains: How long can those high prices be sustained?
"The $9 we're seeing in the markets today is truly aberrational," said Stephen Smith, an analyst with Dain Rauscher Wessels. "On the other …