Drag

With the federal government continuing to drag its feet on applications for exporting domestic liquefied natural gas (LNG) — and President Obama’s nominee to head the Department of Energy (DOE) hedging his bets on the issue — some industry officials contend that regulatory agencies may not be the best place to decide how many of those facilities should operate.

The recession, which has hit Michigan especially hard, will drag residential natural gas prices down 12% and statewide demand down 10% this winter, according to an energy appraisal released Friday by the Michigan Public Service Commission (PSC).

The recession, which has hit Michigan especially hard, will drag residential natural gas prices down 12% and statewide demand down 10% this winter, according to an energy appraisal released Friday by the Michigan Public Service Commission (PSC).

Expenses related to pipeline expansion projects were a drag on profits in 2Q2009, with earnings declining to $20.3 million (12 cents/share) compared with $64.7 million (50 cents/share) in 2Q2008, Houston-based Boardwalk Pipeline Partners said Monday.

Tuesday’s overall rebound in the cash market didn’t last very long as quotes fell at all points Wednesday. Besides the drag of a 12.9-cent futures decline a day earlier, Wednesday’s market was forced to acknowledge that already-light weather-based demand was tending to recede even further.

Milder weather trends in the East combined with already moderate conditions in most of the West to drag cash prices lower at a large majority of points Thursday. The gain of 8.4 cents by March futures a day earlier had little impact in averting softness in most of the cash market.

The financial meltdown, combined with the steep slide in crude oil prices and growth in domestic production, has been a constant drag on natural gas prices over the past months and relief isn’t expected anytime soon, the Energy Information Administration (EIA) said in its Short-Term Energy Outlook for November.

The financial meltdown, combined with the steep slide in crude oil prices and growth in domestic production, has been a constant drag on natural gas prices over the past month, according to the Energy Information Administration’s (EIA) Short-Term Energy Outlook for November. And it says the outlook is not expected to improve anytime soon.

As negotiations drag on between major Alaska producers and the state over the terms involved in building a long-line natural gas transportation pipeline from the North Slope to the Lower 48 states, the costs to construct the mammoth project continue to spiral upwards, FERC said in a report submitted to Congress Wednesday.