Gas prices hit fertiliser industry

North American fertiliser producers are struggling for survival, thanks to the high cost of natural gas. Some have turned to hedging and pre-purchasing their gas, but such measures may not be sufficient. Paul Lyon reports

US politicians are well known for jumping on the bandwagon of Enron’s demise, saying the episode demonstrates the need for tighter regulatory control of the energy markets. But one senator has found a new reason for giving energy regulators increased powers: gas price manipulators could be affecting US farmers, fertiliser producers and, for that matter, the wider economy.

Senator Tom Harkin (Democrat - Iowa), the ranking democrat member of the Committee on Agriculture