Decisive

Williams took decisive action to build its estimable U.S midstream operations last week ahead of its spinoff of the exploration and production (E&P) unit after entering negotiations to buy a Marcellus Shale system.

January natural gas futures fell hard Monday as weather forecasts were adjusted to a slightly warmer outlook, and the Energy Information Administration (EIA) released higher production figures. At the end of the day January futures were down 18.9 cents to $4.210, and February had skidded 17.8 cents to $4.234. January crude oil surged $1.97 to $85.73/bbl.

The head of the National Association of Manufacturers (NAM) called on Congress last Wednesday to do a study to determine “the extent to which pure speculation and market manipulation” were responsible for the run-up in natural gas prices over the past summer, while a representative of the consumer advocate group, Public Citizen, endorsed more government regulation and oversight to tame gas prices and the markets.

The head of the National Association of Manufacturers (NAM) called on Congress Wednesday to do a study to determine “the extent to which pure speculation and market manipulation” were responsible for the run-up in natural gas prices over the past summer, while a representative of the consumer advocate group, Public Citizen, endorsed more government regulation and oversight to tame gas prices and the markets.

Citing “decisive customer response,” effective with Sunday’s gas day Northwest lifted a Stage I Overrun Entitlement Period that had begun Thursday (see Daily GPI, Sept. 29). A Deficiency Period associated with a compressor outage at the Soda Springs Station in Wyoming (see Daily GPI, Oct. 2) remains in effect until further notice.