Avoid

Larry Nichols, who now chairs Devon Energy Corp., stood “on top of the Fort Worth Basin” on Tuesday and recalled the turning point for his company — and the global natural gas industry.

Environmental groups recently filed a lawsuit seeking a rerouting of the proposed Ruby Pipeline, a project of El Paso Corp., in order to “avoid major damage to wildlife habitat, open space and cultural sites.”

Last Friday environmental groups filed a lawsuit seeking a rerouting of the proposed Ruby Pipeline, a project of El Paso Corp., in order to “avoid major damage to wildlife habitat, open space and cultural sites.”

Policymakers should avoid making regulatory decisions only to satisfy the public’s appetite for swift retribution following the Deepwater Horizon well blow-out in the Gulf of Mexico (GOM) because “excessively stringent” rules could result in costs increasing to the point that it becomes uneconomical to drill in deep waters, according to a study published last week (see related story).

Policymakers should avoid making regulatory decisions only to satisfy the public’s appetite for swift retribution following the Deepwater Horizon well blow-out in the Gulf of Mexico (GOM) because “excessively stringent” rules could result in costs increasing to the point that it becomes uneconomical to drill in deep waters, according to a new study.

Possible sales of hundreds of millions of dollars in assets by the nation’s largest municipal utility to help avoid large rate increases are still being considered, according to Austin Beutner, the acting head of the Los Angeles Department of Water and Power (LADWP). An upcoming integrated resource plan is expected to show more detailed plans.

Natural gas futures closed slightly higher Tuesday as traders were content to remain on the sidelines and avoid the free-falling petroleum and equity markets. June natural gas futures rose 1.3 cents to $4.013 and July added a meager 0.4 cents to $4.133. June crude oil tumbled $3.45 to $82.74, and the Dow Jones Industrial Average spiraled lower 225 points to 10,926 largely on debt concerns in Greece.

Much like the day before, a few flat to higher points were able to avoid the softness that continued to dominate the cash market Tuesday. An expiration-day drop of 3 cents by April futures was just another bearish factor in which gas is finding substantive heating demand scarce.

Much like the day before, a few flat to higher points were able to avoid the softness that continued to dominate the cash market Tuesday. An expiration-day drop of 3 cents by April futures was just another bearish factor in which gas is finding substantive heating demand scarce.