2008

An estimated 60% of the 279 million federal onshore acres that have oil and natural gas potential are off limits to leasing, said Interior Department’s Bureau of Land Management (BLM) and several other federal agencies in a report issued last Wednesday.

Proving that it pays to follow instructions, TransCanada Corp. has been chosen by Alaska Gov. Sarah Palin and her administration to build a pipeline from the North Slope to Alberta to commercialize the state’s vast natural gas reserves. The pipeline company’s proposal, called TC Alaska, will be presented to state lawmakers, who will have 60 days to decide whether to move forward with the project.

DTE Energy has launched a pilot program offering rebates of up to $5,000 for customers of MichCon, its natural gas utility, on products and services to help conserve energy. A limited number of $250 rebates will be available to customers who purchase high-efficiency furnaces or who have a professional energy audits performed on their homes. The company also is offering six rebates of $5,000 to builders that construct energy efficient homes. As many as 200 homeowners who replace their existing furnaces with high-efficiency natural gas models will be eligible for a rebate of $250 each. The new furnaces have to be installed by a licensed dealer and have an efficiency rating of at least 93%. As many as 100 homeowners who have an energy analysis performed will be eligible for a $250 rebate each. Only homes built prior to Dec. 31, 1999 are eligible for the program, and homeowners have to complete at least one of the recommendations identified during the energy audit. DTE also is offering six rebates of $5,000 each to licensed Michigan builders that construct homes built to federal Energy Star standards. Energy Star identifies and promotes energy efficient products and practices.

Natural gas futures streaked higher again on Wednesday with more than firm support from the neighboring crude futures market. June natural gas reached a high of $11.683 before closing out the regular session at $11.640, up 27.5 cents from Tuesday’s close.

An estimated 60% of the 279 million federal onshore acres that have oil and natural gas potential are off limits to leasing, said Interior Department’s Bureau of Land Management (BLM) and several other federal agencies in a report issued Wednesday.

Global warming won’t lead to an increase in Atlantic Basin hurricanes, and, in fact, it may lead to fewer tropical storms and hurricanes, scientists with the National Oceanic and Atmospheric Administration (NOAA) have determined.

Sonora Pipeline LLC has asked FERC for a two-year extension of time to complete construction and place in service its proposed pipeline at the U.S.-Mexican border.

FERC last Thursday issued a package of reforms that offer regulated companies a window into the agency’s enforcement process, as well as provide potentially targeted companies with more rights in the enforcement process.

FERC Thursday issued a package of reforms that offer regulated companies a window into the agency’s enforcement process, as well as provide potentially targeted companies with more rights in the enforcement process.