Keeping up isn't easy: conferences serve an important purpose. (Editorial).(Editorial)

Not very long ago, I went to sleep believing that natural gas had closed at around $6.70/mmbtu or slightly higher on the NYMEX exchange, which was reasonable since trading had closed at that already high level just the day before. When I woke up, I found out that natural gas had soared more than $2 in the previous day's trading and closed above $9.

More than the near-historic high natural gas prices, I was shocked at the sudden price volatility of this essential fuel. I quickly updated my notes and prepared to make sense of this sudden development for the 10th Annual Ohio Manufacturers Education Council. After my remarks, I was privileged to hear other speakers address the almost 400 participants. I wasn't disappointed; Mark Uher, the conference organizer had arranged a fine speaker lineup for this two-day event. The attendees were knowledgeable and well connected, too. Soon I found that the group was using its cell phones and PDAs to stay in touch with trading--practically in real time. Spot prices approached $20 in some areas, I learned.

After my remarks, other speakers and panelists proceeded to help the entire group make sense of the high prices and volatility. The speakers also put the day's developments in historic perspective and offered analysis of the long-term effects of high--and highly volatile--natural gas prices.

I could think of no better place to spend this momentous day. I was surrounded by experts who helped make sense of highly unusual events in the energy industry.

In fact, I worried about facility and energy managers who had stayed tethered to their desks that day, informed only by the highly variable price ticker. How would they ...