$5 NG is not sustainable.. $5 NG is profitable for conventional NG plays. Unfortuneately, conventional plays are played out and have been declining in production for the last 3 decades.
NG production from fracking is a problem. NG production from fracking would never have seen the light of day had not conventional plays become exhausted. NG from fracking needs $6-7, at least.
All this this nonsense about increased efficiencies in NG fracking is just that, nonsense. Similar to trying to get 40 mpg out of a 1970 Cadilac. And NG as a byproduct of oil plays is also nonsnse.. The NG reserves in the Bakken fields were recently tripled. Unfortuneately those Bakken NG reserves can now supply the US with 3 months of NG as opposed to one month of NG. The Bakkens have essentially no NG.
There is a reason we are not facing facts about NG. To become realistic about NG would require the EIA, Obama and hucksters such as McClendan to rescind the nonsense they have been spouting about cheap and plentiful NG. They are not willing to do that - yet.