Enough

Incremental acquisitions in the Gulf of Mexico (GOM) weren’t enough to lift McMoRan Exploration Co.’s earnings or production in 2010, but there are signs of a turnaround in 2011, the New Orleans-based operator said Tuesday.

Some market areas — such as from the Rockies and Western Canada through the Upper Plains and Midwest into the Northeast and Eastern Canada — had enough cold weather to justify the hefty price run-ups in Monday’s trading. Although some parts of the eastern South and Southwest would see lows approaching freezing Tuesday, their highs close to 50 or above made it a bit harder to rationalize their sizeable gains.

An online petition calling on Quebec Premier Jean Charest to resign for not placing a moratorium on shale gas development in the province, among other things, had surpassed more than 224,000 signatures as of Monday afternoon.

The Pittsburgh City Council was scheduled to vote Tuesday on an ordinance with questionable legal premises that would prohibit natural gas drilling in the city which is surrounded by the Marcellus Shale.

Noting that while there are “important questions” about the environment, it has been reported that the Marcellus Shale could provide enough gas to meet U.S. demand for decades, while creating thousands of jobs, and most important can be developed responsibly, according to John Felmy, chief economist with the American Petroleum Institute (API).

Noting that while there are “important questions” about the environment, it has been reported that the Marcellus Shale could provide enough gas to meet U.S. demand for decades, while creating thousands of jobs, and most important can be developed responsibly, according to John Felmy, chief economist with the American Petroleum Institute (API).

There’s more than enough gas from the Lower 48’s burgeoning shale plays and elsewhere to allow for the export of some of it in the form of liquefied natural gas (LNG), Sabine Pass Liquefaction LLC said in its application to do just that, recently filed with the U.S. Department of Energy’s Office of Fossil Energy.

There’s more than enough gas from the Lower 48’s burgeoning shale plays and elsewhere to allow for the export of some of it in the form of liquefied natural gas (LNG), Sabine Pass Liquefaction LLC said in its application to do just that, recently filed with the U.S. Department of Energy’s Office of Fossil Energy.

Prices dropped across the board Friday as forecasted weekend temperatures were not enough to sustain further firmness in the cash market. Instead, Thursday’s prompt-month futures dip of 13.9 cents, along with the usual weekend decline of industrial load, proved to be stronger influences on physical quotes.