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If natural gas evolves over time into a global market, it is not likely to parallel the oil market with volatile high prices enabled by cartels and inflexible demand, since neither of those factors are likely to develop in the natural gas industry, according to one of the authors of a recent Massachusetts Institute of Technology (MIT) study (see NGI, June 13).

If natural gas evolves over time into a global market, it is not likely to parallel the oil market with volatile high prices enabled by cartels and inflexible demand, since neither of those factors are likely to develop in the natural gas industry, according to one of the authors of a recent Massachusetts Institute of Technology (MIT) study (see Daily GPI, June 13).

North American investment-grade exploration and production (E&P) companies have accumulated record cash, which in turn has enabled both organic and acquisitive business growth, but companies are being forced to spend more as costs have risen and commodity prices have softened, increasing risks going forward, according to a review by Moody’s Investors Service.

The continuation of very hot temperatures in much of North America, with an assist from Wednesday’s futures advance of nearly 31 cents, enabled a rebound at nearly all points Thursday. Several flat to lower points were scattered among gains that ranged from a couple of pennies to about 30 cents.

Duke Energy’s $1.2 billion sale of Australian energy assets in March enabled the company to post a 48% increase in first quarter net income to $334 million, or 36 cents/share, but excluding one-time charges, earnings fell to 32 cents/share from 42 cents/share in 1Q2003, and missed Wall Street estimates of 37 cents/share. Duke shares were down 4% Thursday following the announcement to $20.98/share.

Intricate tax transactions enabled Enron to inflate its profits by nearly $1 billion between 1995 and 2001, exaggerating the size and scope of its operations, The Washington Post reported Wednesday after obtaining internal company documents from Enron’s former top tax executive.

The emergence of online exchanges in both energy commodities and other products has enabled energy companies to shift to an environment where suppliers can expand their reach and receive a wider comparison selection when they make business decisions. A report by Energy Info Source, “Online Exchanges in the Energy Industry,” examines an evaluation of the challenges and the drivers impacting energy e-commerce.

The Maryland Public Service Commission has rejected an agreementthat would have enabled Washington Gas Light Co., which serves morethan 870,000 customers in the Washington, D.C. area, to implementan incentive-based rate plan. Even though it found some parts ofthe agreement worthwhile, MPSC said it had to either accept orreject the plan in its entirety.

The U.S. utility meter market is growing at a pace of about 3% ayear, rallied by innovative vendors who are winning market sharewith communication-enabled, low-priced meters that offset thesingle-phase residential meters, according to a new researchreport.