Devoid

Emphasizing education and his state’s economy, Oregon’s new governor last week offered an inaugural address that was devoid of any clues as to how he will treat energy issues in a state buffeted by high unemployment and a $3.5 billion budget deficit. However, a spokesperson in the state energy department said Gov. John Kitzhaber has indicated that he wants to focus on energy efficiency, biomass and long-term energy planning.

Emphasizing education and his state’s economy, Oregon’s new governor on Monday offered an inaugural address that was devoid of any clues as to how he will treat energy issues in a state buffeted by high unemployment and a $3.5 billion budget deficit. However, a spokesperson in the state energy department said Gov. John Kitzhaber has indicated that he wants to focus on energy efficiency, biomass and long-term energy planning.

The May natural gas futures expiration Wednesday was devoid of any fireworks as the contract traded between $4.186 and $4.326 before going off the board at $4.271, up 5.5 cents from Tuesday’s finish. Taking over the prompt-month contract title, June futures edged 3.3 cents higher to close at $4.348.

The May natural gas futures expiration Wednesday was devoid of any fireworks as the contract traded between $4.186 and $4.326 before going off the board at $4.271, up 5.5 cents from Tuesday’s finish. Taking over the prompt-month contract title, June futures edged 3.3 cents higher to close at $4.348.

January natural gas futures were able to regain some of Monday’s 11.3-cent loss in Tuesday trading, which was largely devoid of meaningful direction. With little in the way of fresh news to motivate traders, attention turned to the more distant portions of the price curve where longer-term opportunities may lurk. At the close of trading January futures rose 4.6 cents to $5.715 and February added 6.0 cents to $5.712. February crude oil gained 68 cents to $74.40/bbl.

After failing to locate a purchaser for Canadian-based energy trader Engage Energy, Duke Energy confirmed last week that it has decided to close down the division and consolidate some of its operations. The Canadian natural gas and power marketing operation was a division of Westcoast Energy, which Duke purchased in March (see NGI, March 11).

The futures market shrugged off the latest AGA storage reportand made modest gains Thursday in a session notably devoid of freshnews. The August contract was limited to a narrow 5-cent range,settling up 1.4 cents to $1.948.