Legislators in the West Virginia House of Delegates on Monday overwhelmingly passed a bill designed to entice companies to build an ethane cracker in the state by slashing the facility’s property taxes for its first 25 years.
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Alberta, British Columbia Juice Up Incentives to Entice Producers
Spurned by producers that found better business conditions in neighboring provinces, Alberta officials Tuesday made a dramatic effort to entice the energy sector to return by offering a bundle of lucrative tax credits. Alberta’s efforts followed one by British Columbia (BC), which last week increased the amount of natural gas and oil royalty credits available to producers to encourage infrastructure development.
Alberta Uses Drilling Incentives to Boost Production
Spurned by producers that found better business conditions in neighboring provinces, Alberta officials Tuesday made a dramatic effort to entice the energy sector to return by offering a bundle of lucrative tax credits.
Bulls Squander Another Chance as Futures Slip
After a strong opening at $2.28 failed to entice much in the wayof additional buying, natural gas futures gave back most of thegains achieved during Wednesday’s Access trading session anddrifted lower for much of the yesterday’s session. Although itsmomentum was decidedly to the downside Thursday, the Februarycontract did manage to post a higher high at $2.29 and escape witha modest, 0.8-cent advance to finish at $2.252. Estimated volumewas thin with only 45,585 contracts changing hands.
Range-Bound Trading Continues at NYMEX
Not forecasts calling for cooling temperatures, nor record lowsset in the nearby heating oil contract could entice the natural gasfutures market to break out of its month long trading rangeTuesday, as many traders decided instead to play it safe and waitfor a more clearly defined price signal. The March contract drifted1.2 cents lower to settle at $1.795 after being limited to a narrow5-cent trading range.
Short-Covering Thwarts Additional Losses
The futures market was poised to continue lower Wednesday, butafter a lower open failed to entice additional selling,short-covering became the feature of the day. That gave theDecember contract the opportunity it needed to trend into positiveterritory yesterday morning, before settling at $2.213 at theclosing bell. Estimated volume was 75,306.