Dramatic

Plans are forming for a dramatic revival of Arctic offshore exploration in deep Canadian waters of the ice-infested, natural gas-prone Beaufort Sea with a new generation of jumbo polar-class drilling equipment, according to evidence filed with the National Energy Board (NEB).

Plans are forming for a dramatic revival of Arctic offshore exploration in deep Canadian waters of the ice-infested, natural gas-prone Beaufort Sea with a new generation of jumbo polar-class drilling equipment, according to evidence filed with the National Energy Board (NEB).

The United States Natural Gas Fund (UNG) shot back on Friday at those who claim the fund has contributed to dramatic swings in U.S. natural gas prices since September 2007. In the process it may have fired a preemptive strike before the Commodities and Futures Trading Commission (CFTC) convenes next week to discuss possible limits on futures positions (see Daily GPI, July 22a). The fund also took a preventive measure in case the CFTC comes down hard on noncommercial traders. The fund purchased its first ever bilateral, nonexchange traded natural gas swap contract on Friday.

The United States Natural Gas Fund (UNG) shot back on Friday at those who claim the fund has contributed to dramatic swings in U.S. natural gas prices since September 2007. In the process it may have fired a preemptive strike before the Commodities and Futures Trading Commission (CFTC) convenes next week to discuss possible limits on futures positions (see related story; see NGI, July 13a). The fund also took a preventive measure in case the CFTC comes down hard on noncommercial traders. The fund purchased its first ever bilateral, nonexchange traded natural gas swap contract on Friday.

Spurned by producers that found better business conditions in neighboring provinces, Alberta officials Tuesday made a dramatic effort to entice the energy sector to return by offering a bundle of lucrative tax credits. Alberta’s efforts followed one by British Columbia (BC), which last week increased the amount of natural gas and oil royalty credits available to producers to encourage infrastructure development.

Spurned by producers that found better business conditions in neighboring provinces, Alberta officials Tuesday made a dramatic effort to entice the energy sector to return by offering a bundle of lucrative tax credits.

The dramatic tightening of money and credit markets, combined with plunging equity markets over the last few weeks, have exposed natural gas, oil and other commodities to “major downside risks,” a Deutsche Bank analyst said Friday.

The dramatic tightening of money and credit markets, combined with plunging equity markets over the last few weeks, have exposed natural gas, oil and other commodities to “major downside risks,” a Deutsche Bank analyst said Friday.

Due to “dramatic” declines in wholesale gas prices for its Colorado combination utility operations, Minneapolis-based Xcel Energy Tuesday asked state regulators to approve a 14%, or $109 million, retail electric rate decrease effective Oct. 1. Xcel in August asked the Colorado Public Utilities Commission (PUC) to lower retail residential and small business gas utility rates by 54%.