Thanks to the US fracking energy revolution, US natural gas prices are about 3 to 4 times cheaper than the rest of the world. US natural gas prices (at the wellhead) are running at about $3.6 per 1000 cubic feet. On a BTU energy basis, natural gas is 5 times cheaper than oil. In other words, oil would have to be priced at $22 per barrel to match the cost of natural gas' energy content.