Economy

Traders Discount Storm, Eye Crude; September Drops 66.3 Cents

September natural gas futures plunged Monday as traders sought to discount the effects of Tropical Storm Edouard and shift their attention to the economy and a sympathetic drop by crude oil. September futures swan-dived 66.3 cents to $8.726 and the October contract fell 65.8 cents to $8.836. September crude oil dropped $3.69 to $121.41/bbl.

August 5, 2008

Futures Fall as Economic Concerns Trump Colder Weather Forecasts

February natural gas futures shot lower Tuesday as some market watchers hypothesized that the slumping U.S. economy upstaged colder-than-expected temps in near-term weather forecasts. The contract recorded a low of $8.080 before closing out Tuesday’s session at $8.196, down 15.7 cents from Monday’s finish.

January 16, 2008

Duke CEO Calls for ‘Cathedral Thinking’ to Become Energy Efficient

Duke Energy CEO Jim Rogers has two aspirations for the United States: to “substantially decarbonize” the energy supply in this century and to become the world’s most energy-efficient economy.

November 5, 2007

NARUC Says Climate Legislation Should Not Trample State Efforts

Any climate change legislation enacted by Congress should be “economy-wide” and “transparent, consistent, predictable and equitable,” says a draft resolution by a task force of the National Association of Regulatory Utility Commissioners (NARUC).

July 2, 2007

NGSA Sees More Stable Summer Gas Market, Less Price Pressure

Key pressure points influencing the price of natural gas this summer — the economy, storage, consumption and supply — are expected to be flat with last summer, providing a more stable market than a year ago and a “measure of relief” for consumers during the June through August period, the Natural Gas Supply Association (NGSA) said in its latest outlook. While the forecast is an improvement over last summer, the producer group stressed that the gas market still remains very tight.

June 1, 2006

Large Industrial Customers React to Gas Prices by Hedging, Conserving

The industrial sector of the U. S. economy is responding to historically high natural gas prices by doing more hedging, stepping up conservation efforts, turning to alternative energy and generally “playing at the margin,” said a representative for large industrial customers at the LDC Forum in Los Angeles Wednesday

November 11, 2005

Vote on Bipartisan Senate Energy Bill Set for Tuesday

The Senate last week wrapped up two weeks of debate on the omnibus energy bill and is scheduled to vote on the bipartisan package Tuesday morning, setting the stage for Congress to pass a national energy policy for the first time in more than a decade, assuming all goes well this summer in the House-Senate conference on the measure.

June 27, 2005

EIA Raises Gas Price Projections 20% on Crude Forecast, Economy

Although natural gas storage levels remain adequate, high crude oil prices, a continued strong economy and the expectation that Pacific Northwest hydroelectric resources will be well below normal through mid-summer are the principal reasons the Energy Information Administration (EIA) sharply raised its gas price forecasts in its April Short Term Energy Outlook.

April 11, 2005

EIA Raises Gas Price Projections on Crude Forecast, Economy

Although natural gas storage levels remain adequate, high crude oil prices, a continued strong economy and the expectation that Pacific Northwest hydroelectric resources will be well below normal through mid-summer are the principal reasons the Energy Information Administration (EIA) raised its gas price forecasts in its April Short Term Energy Outlook.

April 8, 2005

U.S.-Based Drillers See More Rig Ramp-Ups as E&Ps Look for Natural Gas

Despite the mixed signals in the economy, U.S.-based land and offshore drilling contractors are reporting sequential gains for services and rigs over the first part of the year, especially by aggressive independents on the hunt for natural gas. And if gas prices remain high, most of the contractors expect the domestic rig count to rise both onshore and offshore through the rest of 2003.

August 11, 2003