Since natural gas prices fell of a cliff in 2008, they have continued to descend further and further -- until just recently slipping below $2 per thousand cubic feet (Mcf). Prices have perked up a bit recently, but considering how far it's fallen, it's of little comfort to investors who have tried to catch this falling knife.
Gas hasn't been this cheap in 10 years. The peak above $13 per Mcf in 2008 is now a distant memory.
Natural gas looked cheap back in January when it was trading around the $2.50 mark. Since then, the commodity tumbled another 20%, with prices really nose-diving below $2.00 in the wake of an unseasonably warm winter before picking back up to near the $2.30 mark.