Although opening up the coastal region of the Arctic National Wildlife Refuge (ANWR) to exploration is high on his list of things he would like to see accomplished, President Bush said last week that if Congress should fail to pass legislation to allow drilling in the Alaska region it will only toughen his resolve to lift restrictions on unprotected federal lands to drill for natural gas and oil.
Falters
Articles from Falters
If ANWR Falters, Bush Vows to Look Elsewhere for Gas
Although opening up the coastal region of the Arctic NationalWildlife Refuge (ANWR) to exploration is high on his list of thingsto do, President Bush said yesterday that if Congress should failto pass legislation to allow drilling in the Alaska region it willonly toughen his resolve to lift restrictions on other federallands for producers.
Eastern Prices Soar on Cooling Load While West Falters
The geographic divide between gas markets seldom has been moredistinctive than it was Friday. Opposite corners of the U.S.represented the extremes: Northeast citygates skyrocketed by nearly20 cents while the OFO-hit Southern California border plunged byabout 20 cents. In general it was another case of East being Eastand West being West, and the twain had almost nothing in common.
July Falters on Technical Selling
Traders love to fill in chart gaps and Monday’s strong open leftnot a wide chasm, but a small and clearly defined gap between $2.04and $2.05. To that end, sellers wasted no time Tuesday in pushingthe July contract lower. And once the gap was filled in thecontract continued to fall, settling at $1.989, down 11.1 cents.
Early May Price Rally Falters
May cash prices made a stab at climbing a little higherWednesday, and indeed, one trader said he was “still struggling” tobuy Sonat gas with offers in the low $2.30s. But other sources,while agreeing there was an early push for higher prices, said thenumbers were starting to soften again in the afternoon. “Everybodywent to lunch and then things fell apart,” as a marketer put it.