The last time the Mont Belvieu, Texas, price of ethane was this low, folks were kicking themselves for not betting on Bitcoin when they had the chance.

That was in December 2017, when the price dipped just below 20 cents per gallon (gal). It would then rally mightily to almost 28 cents/gal by the end of January 2018. This time? Probably not.

Natural gas prices in the Permian Basin have bottomed to the point where producers are paying as much as $8.50 per million Btu at the Waha Hub to move their excess gas supplies, EnVantage Inc. reported. The underlying problem has been the rapid expansion of associated gas production as crude oil production continues to grow in the world’s most celebrated unconventional play.

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