We often speak of oil and natural gas in one phrase, as if it is one commodity. In reality, they are two separate commodities. Their different characteristics may very well lead to different answers to the central question in an article by David Porter on ShaleMag.com. Porter asks whether or not an oil and gas world market can exist.
The article explores this question and more:
The definition of each commodity.
Price variation and transportation costs.
Government action and export restrictions, and their impact on price.
Crude oil in the world market.
Natural gas’s different price structure.
A transformation taking place for these commodities.