Balanced

After more than three years, Pennsylvania lawmakers have passed an impact fee on gas drilling. The bill awaits Gov. Tom Corbett’s signature.

While the industry was preaching compromise legislation with balanced regulation and taxes on natural gas in Pennsylvania, environmental groups urged lawmakers to start over, splitting the task into four separate bills.

The “brute force” drilling process that unlocked North America’s shale deposits won’t easily be transferred overseas, Schlumberger Ltd. COO Paal Kibsgaard said Wednesday.

California’s energy future is balanced precariously between runaway costs and the threat of severe shortages, particularly in a “hotter-than-average” summer, according to the California Energy Commission’s (CEC) draft 2005 “Integrated Energy Policy Report,” released last Friday. Touching on everything from global climate change to the cost of gasoline and growing reliance on natural gas, the 157-page report delivers a sobering message for Californians.

Sen. Pete Domenici (R-NM), chairman of the Senate Energy and Natural Resources Committee, on Tuesday expressed support for a strong federal role balanced by state input in siting import terminals for liquefied natural gas (LNG) in the wake of an industry report that warned that gas prices could double to $13.76/MMBtu by 2020 if policy makers do not quickly take steps to increase and diversify supply.

The American Gas Association (AGA) has called on presidentialhopefuls Al Gore and George W. Bush to focus on developing a”balanced, long-term, market-based energy policy” that wouldprominently feature natural gas.

The American Gas Association (AGA) has called on presidentialhopefuls Al Gore and George W. Bush to focus on developing a”balanced, long-term, market-based energy policy” that wouldprominently feature natural gas.

The one-day “Natural Gas Summit” held yesterday in Coloradoturned out to be quite an eye-open for industrial gas customers andsuppliers alike, according to participants.

Vastar Resources would appear to be taking a wait-and-see viewof next year’s gas prices. CEO Chuck Davidson told Houston energyreporters Tuesday that “not much” of the company’s gas productionis hedged next year. Indeed, Vastar generally doesn’t hedge morethan a year out and hedges less than 50% of its production.Davidson said the company also is using more collars rather thanhedges linked to a specific price.