ConceptNet is a very large semantic network of commonsense knowledge suitable for making various kinds of practical inferences over text. ConceptNet captures a wide range of commonsense concepts and relations like those in Cyc, while its simple semantic network structure lends it an ease-of-use comparable to WordNet. To meet the dual challenge of having to encode complex higher-order concepts, and maintaining ease-of-use, we introduce a novel use of semi-structured natural language fragments as the knowledge representation of commonsense concepts. In this paper, we present a methodology for reasoning flexibly about these semi-structured natural language fragments. We also examine the tradeoffs associated with representing commonsense knowledge in formal logic versus in natural language. We conclude that the flexibility of natural language makes it a highly suitable representation for achieving practical inferences over text, such as context finding, inference chaining, and conceptual a...