Attacks

A survey conducted last November of more than 150 information technology (IT) professionals in the oil and gas industry found that 82% had seen an increase in successful cyberattacks in the preceding 12 months.

Turning the tables on Republicans, who have been relentless in their attacks on the administration’s energy policies, President Obama last week called on Congress to provide funding for his five-part plan to combat manipulation, fraud and excessive speculation in the energy markets. While the oil market is the primary target of the president’s plan, the administration effort has implications for natural gas traders and contracts.

In an attempt to turn the tables on Republicans, who have been relentless in their attacks on the administration’s energy policies, President Obama Tuesday called on Congress to provide funding for his five-part plan to combat manipulation, fraud and excessive speculation in the energy markets, particularly the oil market. While the oil market is the primary target of the president’s plan, the administration effort does have implications for natural gas traders and contracts.

President Obama Wednesday defended his energy policy from the ongoing attacks of industry and Republicans on Capitol Hill, and championed natural gas as a new source of energy. The threat of a cut in oil imports due to the political implosions of a number of Middle Eastern countries has added fuel to the verbal battle between the administration and the oil and gas industry over the de facto moratorium on Gulf of Mexico (GOM) drilling.

Democratic and Republican lawmakers and state legislators last week hurled a series of attacks at provisions in the Energy Policy Act of 2005 (EPAct) that they say allow federal regulators to usurp state authority over the siting and construction of electric transmission lines.

Enron Corp. founder Kenneth Lay, who had suffered two previous heart attacks before he collapsed and died on July 5, suffered from severe heart disease, according to an autopsy released by the Pitkin County, CO, Sheriff’s Office. Lay’s three main coronary arteries were more than 90% blocked, the autopsy revealed.

In a shortened trading session in observation of the Sept. 11, 2001 terrorist attacks, October natural gas futures were mostly uneventful Friday as they were contained within a slim 18-cent trading range before settling at $11.263, down 8.4 cents on the day but 42.8 cents lower than the previous Friday’s close.

Comparing the surprise Americans felt from the terrorist attacks of 9/11 to the surprise Americans will feel from soaring energy prices, Sen. Lamar Alexander (R-TN) said last week that his stand-alone natural gas legislation is aimed at bringing energy prices down and alleviating foreign energy reliance.

Comparing the surprise Americans felt from the terrorist attacks of 9/11 to the surprise Americans will feel from soaring energy prices, Sen. Lamar Alexander (R-TN) said Tuesday that his stand alone natural gas legislation is aimed at bringing energy prices down and alleviating foreign energy reliance.