Armed

Armed with fresh benefits forecasts, Canadian domestic industry is reviving a generations-old crusade for a priority spot on energy policy agendas dominated by government support for export pipeline projects. Provincial and federal authorities are being told that enough current refining and petrochemical development opportunities have been identified in Alberta alone to add about C$6.4 billion to Canada’s annual gross domestic product and create 18,600 jobs.

The House Armed Service Committee said Friday it will hold a hearing on Wednesday to decide whether a possible merger of Unocal Corp. with the China National Offshore Oil Corp. (CNOOC) raises national security concerns. And in a letter to Unocal last week, attorneys general from Texas, California, Montana and New Mexico said they are seeking assurances that the company will honor its environmental obligations if CNOOC’s $18.5 billion offer is successful.

Armed with interests in natural gas production, gathering and treating operations, the Southern Ute tribe, one of the smaller Native American tribes in terms of population, is fast becoming a major energy force to be reckoned with in the West.

Armed with interests in natural gas production, gathering and treating operations, the Southern Ute tribe, one of the smaller Native American tribes in terms of population, is fast becoming a major energy force to be reckoned with in the West.

Buoyed by another in a string of supportive storage reports (151 Bcf withdrawal), natural gas futures turned decisively higher Wednesday as pre-weekend short-covering met virtually no selling resistance.

As the wholesale energy sector is rebuilt in the coming years, more financial institutions and more oil and gas producers are expected to lead the way, armed with strong balance sheets and investor goodwill. However, the new players will still need the expertise of energy merchants, and more partnerships are likely, experts believe.

Armed with “preliminary evidence” of manipulation of prices for short-term electric and natural gas markets in western markets, FERC launched formal investigations last week into the potentially illegal pricing activities of three Enron Corp. affiliates — Portland General Electric, Enron Power Marketing and Enron Capital and Trade Resources Corp. — and El Paso Electric, Avista Corp. and marketing affiliate Avista Energy to determine the extent of any wrongdoing and the type of disciplinary actions warranted.

Armed with bearish technical data and fundamental news, traders at the New York Mercantile Exchange wasted little time yesterday as they pressured natural gas futures back below the psychologically important $3.00 mark. Selling was seen from the outset Monday, as traders initiated the daily session with a whopping 14-cent, gap-lower open on the daily chart. The December contract never recovered, sifting lower through the morning only to move sideways during the afternoon. The prompt month closed at $2.922, down 32.6 cents for the day.

Armed with a “smoking gun” discovered in just-released data, theCalifornia Public Utilities Commission (CPUC) has launched a freshoffensive against El Paso Natural Gas’ 1.22 Bcf/d transportationcontract arrangement with affiliate El Paso Merchant Energy.