Declining

California’s natural gas outlook contains growing uncertainty fueled by an inadequate pipeline/storage system, declining viability for liquefied natural gas (LNG) imports, and added U.S.domestic supplies from shale carrying too much carbon-emitting baggage, according to three draft reports developed by the California Energy Commission (CEC) staff that were released last Wednesday.

California’s natural gas outlook contains growing uncertainty fueled by an inadequate pipeline/storage system, declining viability for liquefied natural gas (LNG) imports, and added U.S.domestic supplies from shale carrying too much carbon-emitting baggage, according to three draft reports developed by the California Energy Commission (CEC) staff that were released Wednesday. They will be part of a CEC workshop next Thursday in Sacramento.

Equitable Resources Inc. plans capital spending of about $1 billion next year, a marked decrease from 2008 spending in acknowledgment of declining commodity prices and challenges in the capital markets. Efforts will be focused on development drilling in pursuit of production growth, the company said Thursday.

Equitable Resources Inc. plans capital spending of about $1 billion next year, a marked decrease from 2008 spending in acknowledgment of declining commodity prices and challenges in the capital markets. Efforts will be focused on development drilling in pursuit of production growth, the company said Thursday.

High natural gas prices and declining federal support for energy assistance programs prompted the Louisiana Public Service Commission (PSC) to declare the state’s first-ever “energy emergency” last Tuesday. Residents could now be able to defer paying portions of their utility bills for up to a year. The PSC also called for up to $20 million in state money to support energy assistance and efficiency programs.

High natural gas prices and declining federal support for energy assistance programs prompted the Louisiana Public Service Commission (PSC) to declare the state’s first-ever “energy emergency” Tuesday. Residents could now be able to defer paying portions of their utility bills for up to a year. The PSC also called for up to $20 million in state money to support energy assistance and efficiency programs.

The market had been able to rise in most cases Thursday despite declining cooling load, but it had to face up to the reality of generally weak weather fundamentals Friday. Prices fell by double-digit amounts across the board, and by half a dollar or more at a majority of points. The previous day’s 20.2-cent drop by September futures and the weekend loss of industrial load were additional factors contributing to the cash softness.

The market extended its slide at most points Tuesday as declining cooling load in the West joined already moderate weather in much of the rest of the U.S. The previous day’s 14-cent drop by June futures contributed to Tuesday’s overall cash bearishness.

Nicor Gas is seeking a decoupling mechanism to preserve revenue in the face of declining throughput as part of a rate hike request at the Illinois Commerce Commission (ICC). Meanwhile, two other Illinois gas utilities said their decoupling mechanisms just yielded a million-dollar payback to customers.