Belief

Belief that the bottom has been touched and the outlook can only improve for Canadian gas producers is showing even among professional skeptics and declared opponents of wishful thinking in petroleum engineering, geology and economics firms whose stock-in-trade is reserves evaluations.

Belief that the bottom has been touched and the outlook can only improve for Canadian gas producers is showing even among professional skeptics and declared opponents of wishful thinking in petroleum engineering, geology and economics firms whose stock-in-trade is reserves evaluations.

EOG Resources Inc. is holding to its belief that the Energy Information Administration (EIA) 914 data is “consistently overstating” U.S. natural gas production and has modeled a decline in gas output of 3 Bcf/d by the end of this year, CEO Mark Papa said Wednesday.

EOG Resources Inc. is holding to its belief that the Energy Information Administration (EIA) 914 data is “consistently overstating” U.S. natural gas production and has modeled a decline in gas output of 3 Bcf/d by the end of this year, CEO Mark Papa said Wednesday.

EOG Resources Inc. is holding to its belief that the Energy Information Administration (EIA) 914 data is “consistently overstating” U.S. natural gas production and has modeled a decline in gas output of 3 Bcf/d by the end of this year, CEO Mark Papa said Wednesday.

Backed by a belief that natural gas and oil drilling shouldn’t be “anywhere and everywhere,” Interior Secretary Ken Salazar on Wednesday launched an ambitious reform of the Bureau of Land Management (BLM) to improve onshore land, water and habitat protections and to reduce a sharp increase in protests and litigation, but the changes, officials admitted, are likely to stall new onshore development plans across the country.

The Obama administration’s belief that the East Coast has the potential to generate 1,000 GW of wind power would necessitate the installation of 300,000 windmills offshore, or 166 windmills per mile from Maine to Florida, and could pose more of a threat to the environment than offshore oil and natural gas drilling, said the ranking member of a House Natural Resources subcommittee last Wednesday.

The Obama administration’s belief that the East Coast has the potential to generate 1,000 GW of wind power would necessitate the installation of 300,000 windmills offshore, or 166 windmills per mile from Maine to Florida, and could cause more of an environmental threat than offshore oil and natural gas drilling, said the ranking member of a House Natural Resources subcommittee Wednesday.

Price drops at nearly all points Wednesday appeared to be at least partial justification for some traders’ belief that the overall firmness on Tuesday was not justified by weak weather fundamentals and the previous day’s futures decline of 12.8 cents.