Debate

As both the House and Senate prepare to debate energy legislation this week, energy experts and industry officials Friday called on lawmakers to take an “ecumenical” approach to domestic energy policy that encourages the production of all forms of resources.

EnCana Corp.’s strategy to divide and conquer, which apparently came after three years of internal debate, drew an enthusiastic cheer from investors and energy analysts Monday, sending the company’s share price to a new high and setting off rumors that one or both of new entities could be attractive takeover targets (see related story).

Natural gas and crude futures values declined in unison on Wednesday as traders continued to debate whether the bullish move had finally run its course or the recent price pullback was just a pause before the next push higher. April natural gas recorded a low of $8.990 on the day before closing at $9.024, down 39 cents from Tuesday’s close. May natural gas followed suit, shedding 39.2 cents to finish the day at $9.112.

As the debate surrounding just how much liquefied natural gas (LNG) will actually find its way to U.S. shores continues, a historic delivery of LNG from the Norwegian continental shelf arrived in the United States on Thursday, according to StatoilHydro. The shipment of Snohvit LNG marks the first delivery of gas from Europe to the world’s largest energy market.

As the debate surrounding just how much liquefied natural gas (LNG) will actually find its way to U.S. shores continues, a historic delivery of LNG from the Norwegian continental shelf arrived in the United States last Thursday, according to StatoilHydro. The shipment of Snohvit LNG marks the first delivery of gas from Europe to the world’s largest energy market.

The Senate began debate Thursday on a Finance Committee economic stimulus package that would provide a one-year extension of renewable wind and solar tax credits.

The debate over the peak oil theory revved up Thursday after Cambridge Energy Research Associates (CERA) and IHS Inc. said their indepth analysis puts the aggregate global decline rate at 4.5%, or only about half the 8% rate that many industry pundits have pegged. The analysis did not include natural gas fields, but CERA is working on a companion study on North America, CERA Chairman Daniel Yergin said.

The debate over the peak oil theory revved up Thursday after Cambridge Energy Research Associates (CERA) and IHS Inc. said their indepth analysis puts the aggregate global decline rate at 4.5%, or only about half the 8% rate that many industry pundits have pegged.

Senate Democratic leaders Friday failed to win the 60 votes that were needed to end debate on the broad energy bill (HR 6) and bring it up for a final vote. The setback sets the stage this week for Senate action on an energy measure that could be a modified version of the one passed by the House last Thursday.