Rain is forecast for drought-stricken California this week. That will help fill the West’s hydropower reservoirs and weigh on natural-gas prices. Photo: Associated Press Shivering New Yorkers will no doubt be pleased to hear that San Francisco, after its driest January on record, is due a spot of rain this week. One group that won’t be happy: natural-gas producers. A year ago, the combination of a frozen New York and a parched Bay Area was a boon to struggling gas drillers. When the West’s hydropower reservoirs are depleted, the region burns more gas to keep the lights on. If Northeasterners are simultaneously firing up the heating (and their own power stations) to fend off the cold, this boosts gas demand. Throw in the bottlenecks created by kinks in the country’s pipeline network, and you end up with regional price spikes. On some days in January 2014, gas delivered […]