The February gas futures contract is currently trading at $3.10, $0.11 higher than it settled yesterday. By comparison, the 12 month strip is trading at $3.40/MMBtu and this year's winter strip (Feb 12 - Mar 12) is trading at $3.12/MMBtu.

Three States Bidding for Shell Chemical Plant

Pennsylvania, Ohio, and West Virginia have all shown interest in allowing Shell Oil Co. to develop a chemical plant in their state.

According to the American Chemistry Council, the new chemical plant could attract up to $16 Billion in private investment and have the potential to create more than 17,000 jobs and billions of dollars in tax revenues for the state who wins the bid.

The chemical plant's major product will be ethylene, which is an extremely versatile chemical used to make plastics, rubbers, and other chemicals. Lower cost natural gas has made producing this chemical extremely profitable.

According to C. Alan Walker, secretary of the Pennsylvania Department of Community and Economic Development, this new plant could rival the investment Andrew Carnegie took in the steel industry.

Gas Drilling Improves Roads

Shale drilling is known mostly for providing lower cost and cleaner burning natural gas, in addition to thousands of jobs and a huge boost to a struggling economy. However, with new laws passed in certain states, it will also result in new and safer roads for many residents near natural gas rigs.

Many of the roads that lead to natural gas drilling rigs were not designed to handle the weight of the large trucks needed to carry fracking water and other materials to and from the site.

The new laws will require oil and gas companies to meet with highway engineers to discuss what actions need to be taken to ensure the integrity of the roads, helping to strengthen the nation's infrastructure.