Employment

New York Gov. David Paterson’s proposed plans to lay off hundreds of state employees could be scuttled at the Department of Environmental Conservation (DEC)if permitting fees from new Marcellus Shale wells were dedicated to staffing, the Independent Oil & Gas Association of New York (IOGA) said Monday.

A pair of bills that would help to jump start the economy and employment, improve national security and promote one of the nation’s most important and plentiful resources — natural gas — are “ready for action” when Congress reconvenes this week, according to independent oil billionaire T. Boone Pickens.

A pair of bills that would help to jump start the economy and employment, improve national security and promote one of the nation’s most important and plentiful resources — natural gas — are “ready for action” when Congress reconvenes next week, according to independent oil billionaire T. Boone Pickens.

Tackling carbon dioxide (CO2) emissions would mitigate global warming but also would be a boon to employment and gross domestic product (GDP) in the world’s major economies, according to a new report by international nongovernmental organization The Climate Group.

January natural gas futures fell sharply as traders had to deal with a highly negative employment report. Labor Department figures showed the most jobs lost in 34 years, yet the Dow Jones Industrial Average closed in positive territory following the release of an upbeat forecast by a major insurer. January natural gas fell 27.5 cents to $5.742 and February lost 28.3 cents to $5.767. February crude oil continued its losing ways, dropping $2.86 to $40.81/bbl.

Low oil prices prompted Texaco to cut about 1,000 out of 8,000upstream employee and contractor jobs worldwide as part of areorganization designed to increase emphasis on long-termproduction and reserve growth and streamline costs and improvecompetitiveness. Cost savings are projected to be $200 million peryear, and the reorganization is expected to be completed by the endof the first quarter of next year.