Most of the world’s attention has been directed toward the security and availability of crude oil supplies, but a global energy consultant told a Senate committee this month that domestic pressure on natural gas supplies and prices “poses a greater threat to energy security and to the U.S. economy.”
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Consultant Warns U.S. More Vulnerable to Shortages of Gas, Not Crude
Most of the world’s attention has been directed toward the security and availability of crude oil supplies, but a global energy consultant told a Senate committee this month that domestic pressure on natural gas supplies and prices “poses a greater threat to energy security and to the U.S. economy.”
EIA: Low Storage/Production, Escalating Demand Spell Record Annual Prices in 2003
With working gas in storage expected to hit a record end-of-season low, gas demand slated for solid growth this year and production projected to rise only marginally, the Energy Information Administration (EIA) in its short-term energy outlook for March predicts that the annual average price for wellhead natural gas will be a record high in 2003.
Alaska Gas Likely Directed to Chicago, TransCanada Exec Says
Most of the gas to be developed from northern Canada and Alaska probably will be routed to Chicago because “it’s about the only place that you can make a rational investment and expect a stable return,” according to a TransCanada PipeLines executive.
Raymond James Sees Winter Production Down 3.5 Bcf/d from Last Year
There has been much discussion of the stall in gas-directed drilling in the United States despite expectations of higher prices going forward, but gas drilling also has failed to gain momentum in Canada, Raymond James analysts noted in their “Stat of the Week” equity research report. The analysts predict Canadian gas production and U.S. gas imports will fall by about 500 MMcf/d or 2-3% this winter compared to last winter.
Alaska Gas Likely Directed to Chicago, TransCanada Exec Says
Most of the gas to be developed from northern Canada and Alaska probably will be routed to Chicago because “it’s about the only place that you can make a rational investment and expect a stable return,” according to a TransCanada PipeLines executive.
Raymond James Sees Winter Production Down 3.5 Bcf/d from Last Year
There has been much discussion of the stall in gas-directed drilling in the United States despite expectations of higher prices going forward, but gas drilling also has failed to gain momentum in Canada, Raymond James analysts noted in their “Stat of the Week” equity research report. The analysts predict Canadian gas production and U.S. gas imports to fall by about 500 MMcf/d or 2-3% this winter compared to last winter.
EIA Pegs Wellhead Prices at $2/Mcf for Much of 2002
Despite the sharp downturn in domestic gas-directed drilling rates since July, there will probably not be enough of a reduction in natural gas productive capacity to prevent relatively low prices this winter and through most of 2002, but reduced drilling could have important implications for market prices by 2003, according to the EIA’s Short-Term Energy Outlook –January released last week.
EIA Pegs Wellhead Prices at $2/Mcf for Much of 2002
Despite the sharp downturn in domestic gas-directed drilling rates since July, there will probably not be enough of a reduction in natural gas productive capacity to prevent relatively low prices this winter and through most of 2002, but reduced drilling could have important implications for market prices by 2003, according to the EIA’s Short-Term Energy Outlook –January released on Tuesday.
Residential Customers Not Plugged Into the Energy Web
“Significant web-based investments directed at residential consumers can only be justified on the basis of faith–not rational financial analysis,” according to a survey by Primen which found virtually no consumers interacting with energy companies on the internet.