Long-term growth in energy demand cannot be reversed, but volatility in oil and gas prices could dampen future supplies and presents one of the “main challenges” facing the energy industry, BP plc CEO Tony Hayward said last week.
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BP CEO: Economic Impact on Energy Industry ‘Sudden and Severe’
Long-term growth in energy demand cannot be reversed, but volatility in oil and gas prices could dampen future supplies and presents one of the “main challenges” facing the energy industry, BP plc CEO Tony Hayward told a California audience on Wednesday.
Gas Returns as ‘Fuel of Choice,’ Analysts Say
Energy price declines eventually will dampen the economics for various alternative energy projects, leaving the administration of President-elect Obama to rediscover natural gas as the “fuel of choice.” This was one of the insights Wednesday from a panel discussing “economical sources of supply” on the second day of the LDC Forum Rockies & West Conference in Irvine, CA.
S&P: Volume, Price Uncertainty Could Dampen LNG Boom
The global liquefied natural gas (LNG) market has expanded 33% in the past five years as oil and natural gas companies — with strong credit ratings — propose new regasification terminals. However, even though the sponsors look good on paper, the current LNG boom could result in the “altogether familiar busts” for a variety of reasons, according to a report issued Friday by Standard & Poor’s (S&P).
S&P: Volume, Price Uncertainty Could Dampen LNG Boom
The global liquefied natural gas (LNG) market has expanded 33% in the past five years as oil and natural gas companies — with strong credit ratings — propose new regasification terminals. However, even though the sponsors look good on paper, the current LNG boom could result in the “altogether familiar busts” for a variety of reasons, according to a report issued Friday by Standard & Poor’s (S&P).
APGA Urges EIA to Gather Gas Data to Dampen Price Volatility
The American Public Gas Association (APGA) has called on the Energy Information Administration (EIA) to begin collecting and distributing “relevant and timely” natural gas production and consumption information on a regular basis to help temper the “extreme price swings” in the market.
Hoecker Offers Ways to Dampen Price Volatility
To “ameliorate” the effects of natural gas price volatility thiswinter, FERC Chairman James J. Hoecker yesterday called on LDCs toaccent hedging techniques and long-term contracts, state regulatorsto make greater use of rate design and stabilization tools andclosely oversee LDC purchasing practices, and both federal andstate governments to support energy assistance and weatherizationprograms to aid low-income customers.
Weekend Prices Maintain Bullish Trend
The drop in gas load that usually accompanies a weekendreduction of business activity failed to dampen the cash market’sbullishness Friday. Though a few points (El Paso-Permian andTrunkline-South Texas) eked out only penny upticks and CIG and Wahawere essentially flat, most markets achieved gains of 3-7 cents.Influencing factors were unchanged from earlier in the week,sources said: Western cold, Southern heat, a higher screen andelectric utilities using gas in peaking units while many nuclearand coal plants are down for refueling or other maintenance.