Nat Gas Drops in Price, Thanks to Abundant Supply

One interesting factoid from today's CPI report:

The item in Table A with the largest monthly decrease from October to November was the 4.4% decrease for piped natural gas (that compares to a 2.9% monthly drop in gasoline prices), and it's the only item that has fallen in price over the last 12 months (-1.3% vs. a 19.7% increase in gasoline from November 2010 to November 2011).  

Welcome to the shale gas revolution, where thanks to modern, advanced drilling technologies, we've become the "Saudi Arabia of Natural Gas," which translates into lower prices for U.S consumers.