Mcf

“An intensive review of industry proposals for the MCF revealed that the project was not financially feasible,” NJ Transit said in a statement.

“Further, since this project was originally designed, multiple improvements to the affected power grid have been enacted that have functionally made the MCF as envisioned at that time much less necessary than other critical resiliency projects.”

In New Mexico, the acreage is projected to produce 3.2 million barrels of oil and 18.61 mcf of gas.

That compares with last winter’s residential costs of around $8-$12 per mcf for natural gas, $1.50-$2.50 per gallon for propane, and $2.55 per gallon for heating oil.

With the economy recovering, U.S. benchmark gas prices are up over 40% this year to about $3.70 per mcf.