The chairman of the Commodity Futures Trading Commission (CFTC) Tuesday called on a Senate panel to support President Obama’s request for additional funds for the agency in fiscal year (FY) 2014 so that it can protect the derivatives and futures markets from fraud, manipulation and other abusive practices.
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Industrial Sector Rocketing NatGas Prices Longterm, Says Raymond James
The revival of the U.S. industrial sector will be “the most significant driver” to higher long-term natural gas prices, lifted by new ethylene crackers, ammonia plants and natural gas-to-liquids (GTL) facilities fed by unconventional natural gas, according to an analysis by Raymond James & Associates Inc.
Ohio Governor Revives Severance Tax Proposal
In an effort to revive his plan to levy new severance taxes on hydraulic fracturing (fracking) and natural gas liquids (NGL), Ohio Gov. John Kasich has proposed giving 25% of the tax proceeds to 33 counties in the state’s Appalachian region, home to Ohio’s Utica Shale drilling.
Shales Supporting Enterprise Products’ Refined Products Export Plan
Enterprise Products Partners LP is developing two refined products export facilities on the U.S. Gulf Coast to meet demand for additional refined products export capability with production from shale plays backing up the supply.
Correction
In the article “Consol-Noble JV to Build Marcellus Dry Gas Pipeline” (see Shale Daily, May 29), it was incorrectly reported that a 24-inch diameter dry natural gas pipeline in West Virginia would be completed in six to nine months. The joint venture plans to begin construction of the pipeline in six to nine months, and the time to build and complete the pipeline would be an additional six to nine months. NGI’s Shale Daily regrets the error.
Temps, Power Generation Now Solid Price Drivers; Futures Up A Dime
Natural gas cash prices nationally added on average a nickel in Tuesday’s trading as traders are beginning to see the dynamic of warm weather generating additional power generation requirements from gas-fired plants.
Analyst: Golden Pass Gives Qatar Valuable Options
Spending to create new natural gas liquefaction capacity in the United States may get Qatar Petroleum International (QPI) more bang for the buck than developing additional liquefaction projects at home, according to Wood Mackenzie.
Golden Pass Exports Could Give Qatar Valuable Optionality
Spending to create new natural gas liquefaction capacity in the United States may get Qatar Petroleum International (QPI) more bang for the buck than developing additional liquefaction projects at home, according to Wood Mackenzie.
Ohio Water District Approves Sales to Antero, Gulfport For Utica Development
The Muskingum Watershed Conservancy District (MWCD) approved two separate agreements Friday to provide water from several managed lakes in eastern Ohio for approximately three months to Antero Resources and Gulfport Energy Corp. for Utica Shale operations.
Aurora: Downspacing Sweetening Sugarkane Field
Australia-based and Eagle Ford-focused Aurora Oil & Gas Ltd. said a downspacing pilot on its non-operated acreage in the Eagle Ford’s Sugarkane Field is yielding strong results and the company is planning 40-acre spacing on its recently acquired operated acreage in the play.