Blasted

The American Petroleum Institute (API) last Wednesday blasted a report authored by a coalition of 29 environmental advocacy groups that calls for the incoming Obama administration to reinstate the moratorium on oil and natural gas drilling off the East and Pacific coasts.

September natural gas futures blasted below the old low for the move downward on Monday before rebounding in afternoon trade on a round of short-covering sparked by the development of Tropical Storm Gustav. The prompt-month contract recorded a low of $7.617 before closing out at $7.825, down 1.8 cents on the day.

Sen. Jeff Bingaman (D-NM), chairman of the Senate Energy and Natural Resources Committee, last Monday blasted provisions in the Bush administration’s $25 billion budget request for the Department of Energy (DOE) in fiscal year (FY) 2009, which eliminate the oil and natural gas research and development (R&D) program, the weatherization program and cut funding for solar energy research. The DOE also proposes to repeal $50 million in guaranteed funding outside the regular budget for onshore natural gas exploration.

Sen. Jeff Bingaman (D-NM), chairman of the Senate Energy and Natural Resources Committee, Monday blasted a provision in the Bush administration’s $25 billion budget request for the Department of Energy (DOE) in fiscal year (FY) 2009, which allocates zero dollars for oil and natural gas research and development (R&D). The DOE also proposes to repeal $50 million in guaranteed funding outside the regular budget for onshore natural gas exploration.

The Gasification Technologies Council (GTC) Thursday blasted the recent findings of Carnegie Mellon University researchers that say liquefied natural gas (LNG) might not be competitive with advanced coal technologies on an emissions basis when regasified LNG is used to fuel power plants.

Independent producers blasted the House Democrats’ energy bill — released late Friday — that seeks to repeal tax breaks for oil and natural gas producers, force holders of the flawed 1998-1999 leases to renegotiate their contracts and eliminate royalty relief for shallow and deepwater production in the Gulf of Mexico.

Independent producers blasted the House Democrats’ energy bill that seeks to repeal tax breaks for oil and natural gas producers, force holders of the flawed 1998-1999 leases to renegotiate their contracts and eliminate royalty relief for shallow and deepwater production in the Gulf of Mexico.

The American Chemistry Council (ACC) on Friday blasted the U.S. Minerals Management Service’s (MMS) proposed second draft for a new Outer Continental Shelf (OCS) leasing plan for 2007-2012 (see Daily GPI, Aug. 25). The leasing plan would replace one set to expire on June 30, 2007.

Independent producers blasted the Bush administration’s decision to cut oil and gas research and development (R&D) funding to zero in both the Department of Energy’s (DOE) $23.5 billion budget for fiscal year 2007 and from the R&D program specified in the Energy Policy Act of 2005.