Well, a return to the glory days of 2008, when natural gas briefly touched $13 per thousand cubic feet (MCF) seems nigh on impossible. It's simply hard to envision a scenario where natural gas is once again scarce -- at least in terms of any reasonable investing time horizon.
Consider this: $3 of natural gas gets you about one million BTUs (British thermal heating units) of energy. It takes about eight gallons of gasoline (or about $25 to $30 worth at current prices) to get the same amount of energy.
By now, you've read countless articles about the rise and fall of the natural gas industry. A half decade ago, the industry was giddy with delight because a newly-refined drilling technique (hydraulic fracturing, known as "fracking") turned seemingly dormant energy fields into absolute gushers.