Drivers

Saying he is bullish on natural gas given climate drivers, economic and ultimate global supply optionality for the fuel, a ConocoPhillips market research expert Tuesday predicted continued vacillations between oversupply and undersupply in the nation’s natural gas markets for the foreseeable future.

KeySpan Corp.’s gas distribution side posted a slightly larger seasonal loss in the third quarter compared to last year and a drop in exploration and production (E&P) earnings from its 67% ownership in Houston Exploration Co. The Brooklyn, NY-based company’s electric operations, meanwhile, were the star performer, leading to third-quarter consolidated earnings from operations, after subtracting for preferred stock dividends, of $3.6 million, or three cents a share.

Lower costs and the opportunity to control their own supply arestill the main drivers of industrial bypass of local distributioncompanies, the energy manager for U.S. Gypsum told state regulatorsyesterday.

Technology and deregulation are viewed as the preeminent driversfor change in the energy industry by executives speaking last weekin Houston at the 17th congress of the World Energy Council.Indeed, change – of the fast-paced and relentless variety – seemedto be regarded as a given by most at the congress.