Arctic

Sen. Frank Murkowski (R-AK), a leading proponent of oil and gas drilling in the Arctic National Wildlife Refuge (ANWR), threatened Thursday to mount a filibuster to the economic-stimulus bill or other legislation, in order to force a vote on the ANWR issue before Congress adjourns for the year.

As Senate Republicans look for ways to bring the issue of Arctic National Wildlife Refuge (ANWR) drilling up for a vote, Rep. Edward Markey (D-MA) has issued a letter-report from the General Accounting Office (GAO) that finds that any attempt to drill in the national wildlife refuge system for reasons other than drainage would fly in the face of a 35-year-old policy prohibiting such activity.

Senate Majority Leader Tom Daschle (D-SD) has indicated that he will allow a vote on oil and natural gas drilling in the Arctic National Wildlife Refuge (ANWR) if the pro-ANWR forces in the Senate can pick up 60 votes to bring the proposal to the floor.

Senate Majority Leader Tom Daschle (D-SD) indicated Friday that he will allow a vote on oil and natural gas drilling in the Arctic National Wildlife Refuge (ANWR) if the Senate gets behind a measure to build a long-line gas pipeline from Alaska to the Lower 48 states.

Although opening up the coastal region of the Arctic National Wildlife Refuge (ANWR) to exploration is high on his list of things he would like to see accomplished, President Bush said last week that if Congress should fail to pass legislation to allow drilling in the Alaska region it will only toughen his resolve to lift restrictions on unprotected federal lands to drill for natural gas and oil.

Although opening up the coastal region of the Arctic NationalWildlife Refuge (ANWR) to exploration is high on his list of thingsto do, President Bush said yesterday that if Congress should failto pass legislation to allow drilling in the Alaska region it willonly toughen his resolve to lift restrictions on other federallands for producers.

Undeterred by the fact that this week’s arctic cold front wascovering its largest area yet and showing little inclination forgoing away before the weekend, cash prices took a cue from thescreen and dropped by more than a dollar at almost all pointsTuesday. In a seeming pullback from the brink of market chaos,California and the Pacific Northwest registered plunges from about$11 to nearly $25.

An Arctic cold front spreading through the nation’s midsectionwas enough to arrest a late December slide in cash prices Tuesday,at least in Eastern markets, which tended to be flat to slightlyhigher. But except for essential flatness at Waha and the PermianBasin, most of the West fell by about a dime or more, topped by adrop of almost 30 cents at Stanfield.

For the third day in a row Wednesday, natural gas futures werelower as traders continued to discount the arctic cold front andfocus on the larger fundamental picture. Even as a wintry mix ofprecipitation spread from Texas to Washington, D.C. yesterday,sources continued to point to the large storage overhang andforecasts calling for warming temperatures by early next week. Theprompt January contract finished 1.9 cents lower at $1.906.