Concerns

The Western Business Roundtable — which is comprised of senor executives from western U.S. businesses — is expressing its concerns over the possibility that the U.S. Environmental Protection Agency (EPA) might regulate greenhouse gas emissions. The group has launched a nationwide grassroots campaign to help citizens express their opposition to the EPA’s plan, claiming that it “will encourage thousands of lawsuits by environmental extremists against virtually every business activity in America.”

Fitch Ratings cut its outlook to “negative” from “stable” on DCP Midstream LLC (DCPM) on concerns over low commodity prices and their impact on the company’s cash flow, the ratings agency said Tuesday.

Serious economic and grid reliability concerns surfaced Wednesday in a business-backed report that challenges a climate change action plan backed by seven western governors. The Western Climate Initiative (WCI) is an outline for limiting greenhouse gas (GHG) emissions and implementing a cap-and-trade system.

Raising concerns that a proposed broad-based oil and natural gas severance tax could damage production growth in Pennsylvania, Marcellus Shale producers have come together to lobby against the state’s plans, noting that royalties and bonuses over time would be more beneficial to all involved.

Raising concerns that a proposed broad-based oil and natural gas severance tax could damage production growth in Pennsylvania, Marcellus Shale producers have come together to lobby against the state’s plans, noting that royalties and bonuses over time would be more beneficial to all involved.

With concerns mounting about the effects of hydraulic fracturing on water supplies, New York Rep. Maurice Hinchey last week vowed to aggressively push to close a legislative loophole that exempts the drilling practice from regulation under the federal Safe Drinking Water Act (SDWA).

With concerns mounting about the effects of hydraulic fracturing on water supplies, New York Rep. Maurice Hinchey Wednesday vowed to aggressively push to close a legislative loophole that exempts the drilling practice from regulation under the federal Safe Drinking Water Act (SDWA). If the legislation passes, it could be a game-changer for the natural gas industry, because nine out of every 10 gas wells use the process, a producer told NGI.

Proving Monday’s 49.1-cent gain was all bark and no bite in the momentum category, December natural gas futures on Tuesday plummeted as global economy concerns continue to raise questions about commodity demand strength and weather forecasts continued to shift. The front-month contract ended up closing Tuesday’s regular session at $6.705, down 54.3 cents from Monday’s finish.

Hurricanes Gustav and Ike likely prevented voluntary natural gas production shut-ins as summer wound down, but oversupply concerns should keep gas prices depressed through 2009, and a soft floor of around $7/Mcf “could easily be breached” if the rig count isn’t severely cut, Raymond James & Associates Inc. energy analysts predicted.