Dead

At least 19 were confirmed dead and four others missing following a weather-related accident last Wednesday on a platform in the Campeche Sound of the Gulf of Mexico, according to state-run Petroleos Mexicanos (Pemex).

At least 18 are confirmed dead and seven others missing following a weather-related accident Wednesday on a platform in the Campeche Sound of the Gulf of Mexico, according to state-run Petroleos Mexicanos (Pemex).

After natural gas futures played dead on Monday with minimal activity in either direction, traders were awaiting a spark to steer the market’s next direction. They got that spark Tuesday as AccuWeather.com Hurricane Center Chief Forecaster Joe Bastardi warned that the U.S. Gulf Coast, which avoided the wrath of major storms and hurricanes in 2006, is at much higher risk of destructive tropical weather this year (see related story). April natural gas, which expires Wednesday, soared to a high of $7.530 Tuesday before settling at $7.503, up 24.9 cents on the day. The May contract, which takes over front-month status in after-hours trading Wednesday, added 23.2 cents Tuesday to finish at $7.615. However, prices pushed even higher late Tuesday afternoon in Globex trading due to an unsubstantiated rumor out of the Middle East.

If Massachusetts is so dead set against siting the proposed Weaver’s Cove LNG terminal in its state, Rep. Charles W. Boustany Jr. (R-LA) suggested that the company consider relocating the controversial project to Louisiana.

Broad energy legislation is dead on Capitol Hill this year, but nobody in Washington, DC, wants to admit this reality, a knowledgeable energy legislative analyst says.

Broad energy legislation is dead on Capitol Hill this year, but nobody in Washington DC wants to admit this reality, a knowledgeable energy legislative analyst says.

Some form of energy reform legislation could get through California’s state legislature before the current session ends in September, according to one of the lawmakers whose re-regulation proposal was sacked by a lower house Assembly committee last week. At least four major proposals died in committees or were turned into two-year bills.

Some form of energy reform legislation could get through California’s state legislature before the current session ends in September, according to one of the lawmakers whose re-regulation proposal was sacked by a lower house Assembly committee last week. At least four major proposals died in committees or were turned into two-year bills.

The winter apparently isn’t dead yet. After two weeks of solid net injections into gas storage, market observers were startled Thursday morning when the Energy Information Administration (EIA) reported a 9 Bcf net withdrawal during the past week. It was clearly a step in the wrong direction if the industry plans to make an attempt at rivaling the record injection rate in 2001 just to get storage back to near adequate levels by the beginning of next winter.