The clock is ticking for the United States to begin exporting liquefied natural gas (LNG) before competitors corner the growing global market, according to Donald Raikes, vice president of Dominion Transmission Inc., one of the companies seeking permission to export shale gas.
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Eying Storage, Weather, Traders Take Wait-and-See Approach
Despite bearish storage data and the formation of a tropical storm in the northwestern Caribbean Sea Wednesday afternoon, natural gas futures shuffled mostly sideways Thursday as neither bull nor bear was willing to propel the market very much in either direction. After being held to a relatively-tight, 15-cent trading range, the December contract finished a tenth of a cent lower at $3.29. Estimated volume was 73,349 contracts.
Small Firm CEO Eying Edison Bets on Unique Quasi-Public Route
The CEO of the miniscule Long Beach, CA-based street lighting company aiming to buy financially crippled Edison International said last week he is establishing a joint powers arrangement among more than 200 cities and townships in the southern half of California to help make the deal economically and politically viable. However, the long shot, high-stakes gambling approach is totally contingent on the California legislature failing to pass a rescue bill for the Edison utility.