The Alberta Energy Ministry said it has sold a record C$2.68 billion in drilling rights so far this year, eclipsing the previous record of C$2.39 billion set in 2010.
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Sale of Shale Drilling Rights in Alberta Hits New Record
The Alberta Energy Ministry said it has sold a record C$2.68 billion in drilling rights so far this year, eclipsing the previous record of C$2.39 billion set in 2010.
House Urges CFTC to Restore Order to Energy Markets
As the price of crude oil steadily climbed last week, eclipsing $140 a barrel on Friday, Capitol Hill’s focus was on whether the Commodity Futures Trading Commission (CFTC) was doing everything in its power to police the energy futures markets. The consensus was “no,” which lead House Speaker Nancy Pelosi (D-CA) last Wednesday to ask President Bush to direct the CFTC to use its emergency authority to restore order to the oil and gasoline markets, and the House of Representatives one day later to overwhelmingly pass a bill directing the CFTC to draw on all of its powers, including its emergency authority, to immediately curb excess speculation (see related story).
Despite Futures Dive, Prices Get Cold Weather Boost
The onslaught of what is developing into the most severe winter weather of the 2006-07 season so far in key market areas, eclipsing even the January blizzards, trumped the previous day’s 60.1-cent plunge in March futures as chief cash market influence Tuesday. The result was rising prices at nearly all points, led by triple-digit spikes at several Northeast citygates.