Even with the “full plate” of terrorist-related issues, appropriations bills and concerns about the economy before the Senate now, it should be able to act on the White House’s latest intended nominee for the Federal Energy Regulatory Commission, Joseph T. Kelliher, before it adjourns for the year, a Senate committee press aide said. At the same time, the administration’s choice of Kelliher, a senior policy advisor at the Department of Energy (DOE), received high marks on Capitol Hill and from the energy industry last week.
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Bush Plan to Nominate Kelliher for FERC Gets High Marks
Even with the “full plate” of terrorist-related issues, appropriations bills and concerns about the economy confronting the Senate now, it should be able to act on the White House’s latest intended nominee for the Federal Energy Regulatory Commission, Joseph T. Kelliher, before it adjourns for the year, a Senate committee press aide said. At the same time, the administration’s choice of Kelliher, a senior policy advisor at the Department of Energy, for FERC received high marks on Capitol Hill and from the energy industry.
Chemical Business Lowers Kerr-McGee Prospects
Even though overall operations are performing well, with oil and gas production on track to be up 5% over 2000 and development projects on schedule, producer Kerr-McGee Corp. said Friday that uncontrollable outside events — mostly within its chemicals division — will push down projected third quarter earnings, which will be released in one month.
‘Uncontrollable Outside Events’ Expected To Lower Kerr-McGee 3Q
Even though overall operations are performing well, with oil and gas production on track to be up 5% over 2000 and development projects on schedule, producer Kerr-McGee Corp. said Friday that uncontrollable outside events — mostly within its chemicals division — will push down projected third quarter earnings, which will be released in one month.
Analyst: Inventory Must Decline Before Production, Gas Use Rises
Even though a recent report by the National Association of Purchasing Managers (NAPM) has signaled that natural gas demand is moving toward recovery, industrial-related demand will “remain anemic” until inventory levels come down and production increases, according to last week’s Raymond James Energy’s Stat of the Week.
Analyst: Inventory Must Decline Before Production, Gas Use Rises
Even though a recent report by the National Association of Purchasing Managers (NAPM) has signaled that natural gas demand is moving toward recovery, industrial-related demand will “remain anemic” until inventory levels come down and production increases, according to Raymond James Energy’s Stat of the Week Monday.
Report Sees CA Electricity Growth 20% Over This Decade
Even with the lowest per-capita energy use among the 50 U.S. states, California is facing annual electricity growth that totals 20% over this first decade of the 21st Century, according to the draft “California Energy Outlook: Electricity and Natural Gas Trends Report” by the state energy commission. It is scheduled to be finalized by the five-member commission Sept. 5, along with a separate natural gas infrastructure report.
AGA Mum on Reasons for Major Storage Revision
AGA was even more reticent than normal when asked why it made one of the largest revisions ever to its weekly storage data. As many experts had expected, the association revised the 3 Bcf storage injection it reported last week for the week ending Aug. 10 to a 50 Bcf injection.
Lower Enron Stock Price Drove Skilling Out
Enron Corp.’s stock continued to plummet even further Thursday amid a report that the energy giant’s poor stock performance this year was largely behind CEO and President Jeffrey K. Skilling’s decision to resign.
Storage Injection, Revision Give Traders Clear Bearish Signal
Pressured by another large storage injection made even larger by a 14 Bcf revision, natural gas futures sunk lower Wednesday as traders once again set their sights on the sub-$3.00 level. However, similar to other moves down toward that level of support, yesterday’s selling was unable to demote prices beneath the $3.00 mark. The August contract settled at $3.087, down 7.8 cents for the day and just pennies above its $3.055 low.