Destructive

The 2008 hurricane season “was one of the most destructive years on record from a damage perspective,” according to forecaster Phil Klotzbach of the Colorado State University (CSU) hurricane team.

The 2008 hurricane season “was one of the most destructive years on record from a damage perspective,” according to forecaster Phil Klotzbach of the Colorado State University (CSU) hurricane team.

State practices of assessing higher property tax rates on natural gas pipelines than on other commercial/industrial property are “economically destructive” to both pipelines and natural gas customers, an official with a Washington, DC-based think tank told a House panel Thursday.

State practices of assessing higher property tax rates on natural gas pipelines than on other commercial/industrial property are “economically destructive” to both pipelines and natural gas customers, said an official with the American Enterprise Institute for Public Policy Research Thursday.

“Hurricane Katrina was the most destructive ever to strike the U.S.,” topping off a hurricane season that began as the most active on record, and a summer that will go into the record books as the tenth warmest, the National Oceanic and Atmospheric Administration (NOAA) said Thursday. Around the globe temperatures from June 1 through Aug. 31 were the second highest on record.

While Hurricane Katrina was one of the most destructive natural gas disasters to strike the United States, it did not cause the worst-case type of scenarios with respect to natural gas production, according to FERC’s Office of Market Oversight and Investigations (OMOI).

The industry was keeping its collective fingers crossed Friday as it watched the potentially destructive Hurricane Dennis eventually land in south-central Cuba on its way to the eastern Gulf of Mexico (GOM). The situation kept prices on the rise in most of the East. Except for a few flat to as much as 20 cents higher points, western markets tended to be weaker overall, with losses ranging up to about 30 cents.

It’s been four-and-a-half months since Ivan, the most destructive hurricane for the industry in the last 50 years, swept through the Gulf of Mexico, but producers and pipeline operators were still sending diving crews out last week to assess pipeline and platform damage. Although MMS has set a June 1 deadline for pipe repairs to be completed, El Paso Corp. said repair work on some of its facilities could continue until next fall.

It’s been four-and-a-half months since Ivan, the most destructive hurricane for offshore oil and gas facilities in the last 50 years according to the Minerals Management Service (MMS), swept through the Gulf of Mexico, but producers and pipeline operators were still sending diving crews out on Wednesday to assess pipeline and platform damage. Although MMS has set a June 1 deadline for pipe repairs to be completed, El Paso Corp. said repair work on some of its facilities could continue until next fall.