Backdrop

With the backdrop of high and growing reliance on natural gas for power generation driven by the continuing shale gas expansion and resulting low prices, a conference room filled with gas industry representatives Tuesday discussed ways to better coordinate regional and national gas and power grids during a daylong FERC conference in Portland, OR.

Against a backdrop of falling crude oil and natural gas prices, the House last Thursday passed by an overwhelming margin legislation that seeks to curb “excessive” speculation in the energy markets.

Against a backdrop of falling crude oil and natural gas prices, the House Thursday passed by an overwhelming margin legislation that seeks to curb “excessive” speculation in the energy markets.

Using photo-ops in the Big Apple as a backdrop, California Gov. Arnold Schwarzenegger and his New York counterpart, Gov. George Pataki announced Monday their states will work to link California’s future greenhouse gas (GHG) emissions credit market to a similar upcoming market in the Northeast/Mid-Atlantic states. Earlier in the day, Schwarzenegger rolled out an executive order in his state to implement new global warming laws. He’ll sign the order Tuesday upon his return.

With a backdrop of unhappy local citizens and a river preservationist group gunning for any liquefied natural gas (LNG) proposed terminals, NorthernStar Natural Gas, Inc., noted late last week that the regulatory clock at FERC now officially is ticking on its proposal to build an LNG receiving terminal at Bradwood Landing, OR, 38 miles up the Columbia River from the Pacific Ocean. Meanwhile, the opposing resolve of the Columbia Riverkeeper, a partner with Astoria, OR-based Columbia RiverVision, has intensified.

Against the backdrop of an expected increase in natural gas prices this winter, FERC is “acting to assure that prices are being driven by fundamentals, not by other considerations, such as market manipulation,” FERC Chairman Joseph Kelliher said on Tuesday.

Against the backdrop of apparent voter confusion, strong opposition from various state newspaper editorial boards and a thumbs down from all five members of the California Public Utilities Commission (CPUC), Proposition 80, California’s retail electricity reregulation ballot initiative, was rejected by California voters last Tuesday. The rejection was part of a broader avalanche of opposition at the ballot box to a number of initiatives up for consideration this year in the state.

Against an industry backdrop of widening oil price differentials and rising operating costs, Calgary-based EnCana Corp. on Wednesday reported a net loss due to mark-to-market accounting, despite a 34% jump in operating earnings and a 46% boost in total cash flow, compared to results in the first quarter last year. Operating earnings were $611 million, or $1.34/share, and total cash flow was $1.41 billion, or $3.11/share. These are U.S. dollar figures, the company said.

Against the backdrop of rapid growth in the Southeast and a plethora of request for proposals (RFP) coming from that part of the country, Calpine Corp. last week lifted the veil on a new subsidiary called NewSouth Energy LLC in order to better focus on wholesale power customers and energy markets in the South.