Economic

Natural gas markets worldwide are showing increasing convergence, particularly among the Organization of Economic Cooperation & Development (OECD) countries, and that trend, spurred by increased liquefied natural gas (LNG) traffic, is expected to continue, according to Raymond James’ Energy Stat of the Week.

Due to a little taste of winter-like cold returning to northern market areas and the possibility of early storage refills already getting under way, prices were up at nearly all points Monday.

Five years after a wholesale energy market crisis with lasting economic and political ramifications, one of which was his election to California’s highest office two years ago, Gov. Arnold Schwarzenegger late Thursday in his state-of-the-state address only once referred to energy during a 20-minute, 2,500-word speech in Sacramento. When talking about environmental and state infrastructure programs the “e-word” never crossed the former movie actor’s lips.

Even with political alignment and the right economic metrics, the movement of Arctic natural gas to the Lower 48 states faces the challenge of pipe manufacturing limitations that should prevent the proposed Alaska and Canadian (Mackenzie Delta) pipeline projects being developed concurrently, a Houston-based Chevron executive told an industry audience in Los Angeles Wednesday.

Citing harsh economic impacts on the national economy from the post-hurricane run up of natural gas prices, the National Association of Manufacturers (NAM) Thursday sounded the call for “a second national energy bill” from Congress that would open up parts of the outer continental shelf to drilling. NAM’s President John Engler, the former governor of Michigan, said the manufacturers support a bill from Rep. Richard Pombo (R-CA) to lift the drilling restrictions.

Severe economic pain will be felt this winter by natural gas customers nationwide. Utility companies in Texas, Minnesota, Alabama and elsewhere warned customers last week that winter bills will be about 40-90% higher than last winter.

Severe economic pain will be felt this winter by natural gas customers nationwide. Atmos Energy Corp., the largest gas-only utility company in the nation, warned its 1.4 million customers in north and central Texas on Wednesday that residential gas bills may be 60-90% higher this winter compared to last winter.

Natural gas customers nationwide are going to suffer the “economic pain” of high prices and tight supply this winter in the wake of Hurricane Katrina, the head of the Energy Information Administration told a House subcommittee last Wednesday.

Natural gas customers nationwide are going to suffer the “economic pain” of high prices and tight supply this winter in the wake of Hurricane Katrina, the head of the Energy Information Administration told a House subcommittee Wednesday.