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"There were not snack machines, and the gas stations only sold gas.
He just sold gas assets at a knockdown price to an electric utility he partly owns.
"We spent a lot of money on nothing when we sold gas," he said.
For example, Ultra Petroleum reported profit margins of more than 20percentt from Pinedale-area gas in 2002, when it sold gas for an average price of $2.18.
Long lines at gas stations created massive traffic jams even as black marketeers sold gas at more than four times the normal price.
In contrast, Gazprom sold gas to western Europe for an average of $380.50 per thousand cubic metres in 2013, according to Bloomberg.
Similar(45)
British Gas says it has been selling gas at a loss since April due to the rising cost of gas on the wholesale markets.
British Gas managing director Phil Bentley recently claimed his company had been selling gas at a loss, which was not sustainable.
"They sell gas.
It should sell its gas freely, just as Europeans should sell gas among themselves.
Try getting them at a place that sells gas.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com