As sources had expected, the nearly stationary presence of a production-disrupting tropical depression off the Louisiana coast was outweighed by the impending significant reduction of air conditioning load in much of the market and the extra decline of industrial demand associated with a holiday weekend. The result was falling prices at nearly all points Friday.
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A federal judge has sentenced Tim DeChristopher, 29, to two years in prison for disrupting a Bureau of Land Management lease auction in Utah in December 2008. U.S. District Judge Dee Benson also fined DeChristopher $10,000 and gave him three years of probation. In March a jury found the Universithy of Utah economics student guilty of one count of violating the federal Onshore Oil and Gas Leasing Reform Act and two counts of providing false statements. DeChristopher falsely bid on 13 lease parcels covering 22,000 acres near Utah’s Arches and Canyonlands national parks on Dec. 19, 2008 (see NGI, Jan. 5, 2009). He reportedly disrupted the auction over climate change concerns.
August 1, 2011
NYMEX Extends Delivery Period for August Futures Contract
After disrupting and shutting in Gulf of Mexico oil and natural gas production areas, Hurricane Katrina continues to make her impact felt in both physical destruction of property and technical hang-ups in energy markets. The delivery committee of the New York Mercantile Exchange Inc. (NYMEX) convened Monday morning to review deliveries in progress related to the NYMEX Division natural gas futures contract for August 2005.
August 30, 2005
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