Economy

Canadian natural gas exports dropped last year as a faltering economy and rising U.S. supplies reduced overall reliance on imported natural gas, shows a trade scorecard kept by the U.S. Department of Energy.

The economy and low commodity prices scuttled capital spending plans this year for scores of U.S. energy companies, but for many operators exploring and developing the natural gas-rich area that straddles a region covering East Texas and northern Louisiana, that’s not the case.

In acknowledgment of the weak economy and drilling cutbacks by producers, Spectra Energy Corp. executives last Thursday emphasized the insulation from commodity price fluctuations enjoyed by the company’s fee-based processing businesses, and they noted that 80% of Spectra customers have investment-grade credit ratings.

In acknowledgment of the weak economy and drilling cutbacks by producers, Spectra Energy Corp. executives Thursday emphasized the insulation from commodity price fluctuations enjoyed by the company’s fee-based processing businesses, and they noted that 80% of Spectra customers have investment-grade credit ratings.

Reflecting the worsening economy’s impact on low-income utility customers, the Idaho Public Utilities Commission (PUC) said Wednesday it supports new state legislation allowing the state’s private-sector utilities to propose additional programs, policies and rates to help assist low-income energy utility customers. The PUC cited its staff report issued in January, “Energy Affordability Final Report,” following a series of workshops held during the last half of 2008.

U.S. onshore natural gas production is on cruise control, but the economy, and commodity prices, are in reverse. The result: more than a few fender benders as exploration and production (E&P) companies issue quarterly earnings reports in the coming days.

San Diego, CA-based Sempra Energy’s two utilities are the first in California to react to the increasingly sour economy in its headquarters state and nationwide, urging its retail utility customers Wednesday to seek various assistance programs offered by the utilities — Southern California Gas Co. (SoCalGas) and San Diego Gas and Electric Co. (SDG&E).

U.S. onshore natural gas production is on cruise control, but the economy, and commodity prices, are in reverse. The result: more than a few fender benders as exploration and production (E&P) companies begin issuing quarterly earnings reports this week.

While the economy continues to send shivers through various clean fuel sectors, California’s budding electric and natural gas transportation space remains healthy and optimistic, according to major utilities in the state. Several officials told NGI in January that both the infrastructure and the vehicles (dedicated and converted) are taking shape in the nation’s most automobile-dense state.