Natural gas storage is almost off the record high levels that have persisted since November of last year. You can see pretty clearly here or here that storage levels are nearly back to the previous highs set in the last two years. It is not so much that production has declined (because it has not as seen here, though it did decline a bit late last year before rebounding early this year) but that the market is starting to stabilize when it comes to demand and the import/export market. With domestic production up (even with fewer rigs drilling for gas), it should be no surprise that net imports are down to their lowest levels in almost 20 years.
(Many of the rigs no longer drilling for natural gas have moved to liquid, read: oil, plays. Perhaps more on this later.)
What does any of this mean? To the consumer, will you spend more or less on heating gas this winter? To the investor, how can you invest into (or out of) these changes? To the voter, are you really basing your electoral decision on this single issue?