For Natural Gas, End to Wishful Thinking

By SPENCER JAKAB May 13, 2012, 9:15 p.m. ET

Viewed from space, parts of North America probably resemble a pincushion these days.

Rarely have there been as many drilling rigs poking holes in the ground to pump out hydrocarbons. But the furious activity doesn't have to be all bad for prices in the glutted natural-gas market.

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