Essential

Citing commercial, environmental and technological uncertainties, the environmental group Western Resource Advocates (WRA) released a report casting doubts on oil shale, and emphasizing its distinct differences with shale gas and shale oil.

Shale gas is reviving the domestic chemical industry, has already sparked growth in exports, and going forward it will boost the U.S. economy through new jobs in supplier industries and other manufacturers benefiting from cheap, plentiful energy, according to the National Petroleum Council (NPC).

A jumbo addition to Alberta’s TransCanada-Nova natural gas pipeline grid has won approval as an essential new “lifeline” for growing oilsands plants. Syncrude Canada, the biggest bitumen extraction and synthetic oil upgrading complex, coined the nickname in urging the Alberta Utilities Commission (AUC) to approve speedy construction.

A jumbo addition to Alberta’s TransCanada-Nova natural gas pipeline grid has won approval as an essential new “lifeline” for growing oilsands plants. Syncrude Canada, the biggest bitumen extraction and synthetic oil upgrading complex, coined the nickname in urging the Alberta Utilities Commission (AUC) to approve speedy construction.

Due to essential facility modifications at Unionville Compressor Station, MRT will take its West Line out of service for one day beginning at the start of next Tuesday’s gas day. MRT said it will be unable to accept any receipts into the West Line during the outage.

Mirant Corp. subsidiary Mirant Energy Trading LLC said last Thursday that it has agreed with the U.S. Department of Justice (DOJ) on a resolution of the seven-year investigation into the knowing submission of inaccurate natural gas trade reports in 2000 by traders of former subsidiary Mirant Americas Energy Marketing LP (MAEM). Under terms of the agreement, Mirant Energy Trading is to pay an $11 million penalty to the U.S. Treasury.

The U.S. House of Representatives passed the Pipeline Safety Improvement Act of 2006 Wednesday night by unanimous voice vote. The act is seen as essential for the energy industry because it provides funding and direction for the U.S. Department of Transportation’s pipeline safety oversight programs.

“Finding creative ways to make deals happen is a bigger challenge for me than assessing a financial statement,” according to Frank Hilton, vice president and chief credit officer for AEP. “You have to look at other things besides the balance sheet,” Hilton told the audience at the LDC Forum last Tuesday in Chicago.

“Finding creative ways to make deals happen is a bigger challenge for me than assessing a financial statement,” according to Frank Hilton, vice president and chief credit officer for AEP. “You have to look at other things besides the balance sheet,” Hilton told the audience at the LDC Forum Tuesday in Chicago.