The embargo led to short-term gasoline rationing, caused petroleum prices to quadruple and increased demand for other fuels. Coal prices tripled, increasing the financial pressures on our company. Our natural gas business faced a double whammy: soaring prices and diminishing supplies.
We continued to expand natural gas service to residential customers but had to impose a moratorium on new service to industries and other large customers. In 1975, we made the wise use of energy and conservation of energy resources a top priority to help customers.