Brakes

U.S. domestic crude oil production is at its highest level in 20 years, outstripping pipeline capacity and, increasingly, making its way to refineries and storage centers via railroads, according to the Energy Information Administration (EIA).

Louisiana oil and natural gas interests are rallying support for legislation intended to put the brakes on runaway liability awards for environmental damage in the state. SB 443 is currently in the state Senate Judiciary Committee A, and Louisiana Oil & Gas Association (LOGA) Chairman Don Briggs is hoping the industry will step up to support it.

Drillers in northeastern Pennsylvania — the dry gas area of the Marcellus Shale — in the months ahead will stomp on the brakes with both feet and jam the dry gas freight train into reverse, according to an analysis by Bentek Energy LLC. Even if they do, a bulging gas surplus will fester behind pipeline capacity constraints for years to come, the firm said.

Drillers in northeastern Pennsylvania — the dry gas area of the Marcellus Shale — in the months ahead will stomp on the brakes with both feet and jam the dry gas freight train into reverse, according to an analysis by Bentek Energy LLC. Even if they do, a bulging gas surplus will fester behind pipeline capacity constraints for years to come, the firm said.

Natural gas futures traders put the brakes on last week’s late rally as the December contract on Monday recorded a low of $3.825 before closing out the regular session at $3.832, down 20.6 cents from Friday’s finish.

The Pennsylvania State Police (PSP) placed 208 trucks out of service in a three-day enforcement sweep that focused on commercial vehicles that haul wastewater from Marcellus Shale gas drilling sites, Police Commissioner Frank E. Pawlowski said Wednesday.

Citing changing market conditions since it proposed the project, Chevron Corp. has decided to put the brakes on development of its Casotte Landing liquefied natural gas (LNG) terminal in Mississippi.

Citing changing market conditions since it proposed the project, Chevron Corp. has decided to put the brakes on development of its Casotte Landing liquefied natural gas (LNG) terminal in Mississippi.

February natural gas futures managed to rebound 13.8 cents to close at $4.780 on Wednesday, but market experts were quick to put the brakes on any bullish optimism. Even with brutal cold lingering in a number of important gas-consuming regions, most traders were quick to note that the slumping economy remains the lead story in commodity trading.